2022-08-12 07:30:34
BREAKING: Malaysia GDP Grew 8.9% in Second Quarter
Malaysia's economy grew at the fastest pace in a year, powered by a surge in consumption.
Analysts consensus estimate was at 7%, with the actual figures coming in way above at 8.9%.
BNM now expect the full year GDP to come in at 5.3-6.3%, with headline inflation closer to 2.2-3.2% range.
BNM added that monetary policy will continue to be accommodative. The central bank has hiked the overnight policy rate by 50 basis point since May this year
Private consumption jumped 18.3% compared to the same quarter a year ago. Services sector expanded 12%.
Source: Bloomberg 12 Aug 22
https://www.bloomberg.com/news/articles/2022-08-12/malaysian-economy-expands-8-9-in-2q-fastest-pace-in-a-year
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