Malaysia Q2 GDP Growth Slows As Expected

Malaysia's economic growth eased further in the three months ended June, in line with expectations, figures from the Department of Statistics showed Friday.

Gross domestic product advanced 4.0 percent year-over-year in the second quarter, slower than previous quarter's 4.2 percent increase. The figure also matched consensus estimate.

The rate of expansion has been slowing since the second quarter of 2015.

On the production side, services sector strengthened to 5.7 percent from 5.1 percent in the first quarter. However, both manufacturing and construction growth eased since last quarter.

On the expenditure approach, growth was primarily driven by private final consumption expenditure and gross fixed capital formation.

Quarter-on-quarter, GDP growth also moderated to 0.7 percent in the June quarter from 1.0 percent in the preceding three-month period.

The statistical office also revealed that the current account surplus of the country shrank to MYR 1.9 billion in the second quarter from MYR 5.0 billion in the first quarter.

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