Malaysia’s economy likely expanded 5.8% in Q2, show advance estimates

[KUALA LUMPUR] Malaysia’s economy is expected to expand by 5.8 per cent in the second quarter of 2024 from a year earlier, driven by service, manufacturing and agriculture sectors, official advance estimates from the Statistics Department (DOSM) showed on Friday (Jul 19).

The projected growth is higher than the first quarter’s GDP growth of 4.2 per cent year on year (yoy), and more than economists’ forecasts.

AmBank Group earlier projected the country’s economy to grow by 5.3 per cent in Q2 this year amid sustained domestic demand and better exports. MIDF Research, meanwhile, forecasts Q2 GDP to expand by 4.7 per cent.