Malaysia's economy grew faster-than-expected in April-June and became the f...
KUALA LUMPUR - Malaysia’s economy grew faster-than-expected in April-June and became the first Southeast Asian nation to report an acceleration in growth from the previous quarter, driven by stronger consumer spending and palm oil production.
Malaysia’s pickup in growth contrasts with other Southeast Asian economies, which have slowed this year as the U.S.-China trade war hits demand for exports. However, analysts and policymakers caution that increased global risks pose challenges for Malaysia’s outlook. Indonesia, the Philippines and Singapore have all reported weaker growth in the second quarter than in the first. Thailand will report April-June data on Monday.
Asked about the possibility of a second interest rate cut this year, Nur Shamsiah said the bank was assessing risks for domestic growth and inflation.
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