AFP, Kuala Lumpur :
Growth in Malaysia’s economy slowed to a “moderate” 5.6 percent in the third quarter as exports decelerated, the central bank said Friday, but it added that domestic demand was expected to support steady expansion.
Southeast Asia’s third-largest economy depends heavily on exports but in recent years has increasingly leaned on domestic demand as demand in key overseas markets stutters.
In the three months through September, private-sector activity “remained the key driver of growth”, while exports expanded at a “slower pace” of 1.5 percent, Bank Negara said.
The latest figure compares with 6.5 percent in the previous three months and 6.2 percent in January-March.
Third-quarter growth in 2013 was 5.0 percent.
“While risks to growth have increased, the Malaysian economy is expected to remain on a steady growth path,” Bank Negara said.
Growth in Malaysia’s economy slowed to a “moderate” 5.6 percent in the third quarter as exports decelerated, the central bank said Friday, but it added that domestic demand was expected to support steady expansion.
Southeast Asia’s third-largest economy depends heavily on exports but in recent years has increasingly leaned on domestic demand as demand in key overseas markets stutters.
In the three months through September, private-sector activity “remained the key driver of growth”, while exports expanded at a “slower pace” of 1.5 percent, Bank Negara said.
The latest figure compares with 6.5 percent in the previous three months and 6.2 percent in January-March.
Third-quarter growth in 2013 was 5.0 percent.
“While risks to growth have increased, the Malaysian economy is expected to remain on a steady growth path,” Bank Negara said.
