Malaysia’s Q2 GDP sees stronger growth of 4.9%

16 Aug 2019 / 12:14 H.

KUALA LUMPUR: The Malaysian economy grew at a stronger pace of 4.9% in the second quarter of 2019, from 4.5% in the first quarter, supported by higher household spending and private investment.

On a quarter-on-quarter seasonally-adjusted basis, the economy grew by 1%.

On the supply side, the mining sector rebounded, driven mainly by the recovery in natural gas output.

Growth in the manufacturing sector improved marginally, supported by better performance of the domestic-oriented industries.

Services sector continued to expand amid sustained growth in the wholesale and retail trade subsector.

For the quarter, headline inflation averaged higher mainly reflecting the lapse in the impact of the Goods and Services Tax zerorisation that was implemented in June 2018.

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