Malaysia’s Economy Expands 8.9% in the Second Quarter, Fastest Pace in a Year
- Policy adjustments to be measured, gradual, BNM governor says
- Consumption jumps 18.3%, services and manufacturing also rose
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Malaysia’s economy grew at the fastest clip in a year, fueled by a surge in consumption underpinning the recovery of services and manufacturing, boosting the central bank’s scope to focus on fighting inflation.
Gross domestic product expanded 8.9% in the April-June period from a year ago, according to Bank Negara Malaysia, beating the 7% median estimate in a Bloomberg survey. Output rose 3.5% from the first quarter against a median estimate of a 1% growth.