Malaysia Q2 GDP grows 5.8% y-o-y, beating forecasts

[KUALA LUMPUR] Malaysia's economy expanded 5.8 per cent in the second quarter from a year earlier, the fastest pace in more than two years and defying expectations for a slight slowdown, central bank data showed on Friday.

Continued strength in domestic demand and robust exports were key growth drivers in the quarter, Bank Negara Malaysia (BNM) said at a news conference.

Analysts polled by Reuters had expected growth to fade slightly to 5.4 per cent in April-June from 5.6 per cent in the first quarter.

Bank Negara Malaysia (BNM) raised its full-year 2017 GDP growth forecast to above 4.8 per cent. The last forecast in March predicted growth of 4.3 to 4.8 per cent.

REUTERS