Malaysia's economic growth weakened more-than-expected in the first quarter, reflecting mainly slower growth in public spending and investment, latest data showed Wednesday.
Gross domestic product, at constant prices, increased 4.1 percent on an annual basis in the three months ended March, notably slower than the revised 6.5 percent gain recorded in the fourth quarter, the Department of Statistics said.
Economists had forecast the growth rate to ease to 5.5 percent from the previous quarter's originally reported 6.4 percent.
With a 13.2 percent annual growth, gross fixed capital formation continued to be the main driver of growth on the demand side, but the rate of growth was notably slower than the previous quarter's 16 percent.
Government final consumption expenditure rose at a weaker rate of 0.1 percent than 1.2 percent in the fourth quarter.
Contributing to the overall growth, total final consumption expenditure recorded a 6.1 percent year-on-year increase. Exports declined to 0.6 percent from the first quarter of 2012, while imports increased by 3.6 percent.
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