Malaysia Growth Withstands Global Risks on Spending Boost
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Malaysia’s economic expansion unexpectedly accelerated as construction and consumption climbed, easing pressure on the central bank to join its Asian counterparts in cutting interest rates to shore up growth.
Gross domestic product rose 5.4 percent in the three months through June from a year earlier, after expanding a revised 4.9 percent in the previous quarter, Bank Negara Malaysia said in a statement in Kuala Lumpur yesterday. The median of 23 estimates in a Bloomberg News survey was for a 4.6 percent expansion.