Malaysia’s Q2 GDP growth beats forecasts at 5.9%

[KUALA LUMPUR] Malaysia’s economy expanded by 5.9 per cent in the second quarter compared to Q2 the year before, supported by stronger domestic demand and further growth in exports, said Bank Negara Malaysia on Friday (Aug 16).

The final figure exceeded the forecast of 5.8 per cent by a group of economists in a recent Reuters poll, and the advance estimates of 5.8 per cent by the Department of Statistics Malaysia (DOSM).

DOSM chief statistician Mohd Uzir Mahidin, speaking to the media on Friday, attributed the growth to higher household spending, continued progress in multi-year projects, capacity expansion by the private sector, and improved exports.