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Malaysia Q4 GDP grows 4.7% y-o-y, in line with expectations
[KUALA LUMPUR] Malaysia's economy expanded 4.7 per cent in the October-December quarter from a year earlier, ending four quarters of slowing growth on resilient private consumption and some recovery from supply disruptions in commodity-related sectors.
Fourth-quarter growth was in line with the 4.7 per cent median forecast in a Reuters poll of 14 economists.
The Southeast Asian economy expanded 4.4 per cent in the July-September period, the fourth straight quarter of slower growth and the weakest since the third quarter of 2016.
The central bank said growth was supported by private consumption, which was propped up by improvements in labour market conditions.
Full-year growth in 2018 came in at 4.7 per cent, Bank Negara Malaysia (BNM) Governor Nur Shamsiah Mohd Yunus said, slightly below the government's forecast of 4.8 per cent.
Nur Shamsiah told a news conference that exports were more positive in the fourth quarter and expects it to continue that way moving forward.
The current account surplus grew to RM10.8 billion (S$3.6 billion) in the fourth quarter.