Malaysia's Q1 economic growth slows to 0.7%, better than forecast

[KUALA LUMPUR] Malaysia's economy grew at a slower pace of 0.7 per cent in the first quarter from a year earlier, better than expected in spite of the impact of the coronavirus pandemic on exports and domestic demand.

The pace of expansion was better than the 1.5 per cent decline forecast in a Reuters poll, though still below the 3.6 per cent growth rate in the fourth quarter.

Bank Negara Malaysia said the coronavirus outbreak has affected growth across major and regional economies, many of which imposed lockdowns that crimped economic activity and demand, including in Malaysia.

REUTERS