Malaysia GDP Advances 0.8% QoQ in Q1

Malaysian economy advanced a seasonally adjusted 0.8 percent quarter-on-quarter in the first three months of 2014, decelerating from a 1.9 percent expansion in the previous quarter.
Bank Negara Malaysia | Joana Taborda | joana.taborda@tradingeconomics.com
5/16/2014 12:53:09 PM
The Q1 quarter-on-quarter growth rate is the lowest in the last five quarters, but compares with a 0.3 percent contraction in the first three months of 2013.

Year-on-year, the GDP expanded 6.2 percent from January to March, higher than a 5.1 percent increase in the last three months of 2013, driven by a recovery in exports.

In March, Bank Negara Malaysia said the GDP may rise 4.5 percent to 5.5 percent in 2014, up from 4.7 percent in 2013. The central bank expects growth to remain anchored by domestic demand, with additional support from the improvement in the external environment. It expects exports to benefit from the recovery in the advanced economies while private domestic demand is expected to remain the key driver of the overall growth. 

At its May 8th meeting, the central bank held the overnight policy rate at 3 percent for an 18th straight meeting, but signaled it may need to tighten monetary policy in the near future to curb financial imbalances like rising household debt.

Malaysia GDP Advances 0.8% QoQ in Q1



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