Malaysia’s Q1 GDP growth slows to 4.5%

16 May 2019 / 13:21 H.

KUALA LUMPUR: Malaysia’s economic growth moderated to 4.5% in the first quarter of 2019 from 4.7% in the fourth quarter of 2018.

The expansion on the economy was underpinned by private sector activity, which remained the key driver of growth.

On the supply side, major sectors continued to expand, with the exception of the mining sector due to the decline in oil and natural gas production arising from unplanned closure of production facilities.

The rebound in the agriculture sector on account of strong recovery in oil palm yields provided an additional lift to growth.

Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus said the central bank maintained the baseline projection for the economy to grow between 4.3%-4.8% for the year, taking into account the US-China trade war.

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