News & Articles Malaysian economy grew by 5 per cent last year, says Bank Negara
Malaysian economy grew by 5 per cent last year, says Bank Negara
18 Feb 2016
KUALA LUMPUR: The Malaysian economy expanded by 5 per cent last year, led by the private sector. Bank Negara Malaysia said economic activities in the fourth quarter grew by 4.5 per cent from 4.7 per cent in the third quarter.
On a quarter-on quarter seasonally-adjusted basis, the economy grew faster by 1.5 per cent from 0.7 per cent in the previous quarter.
"Despite the challenging economic environment during the quarter, the private sector continued to be the key driver of growth," it said today.
Private consumption grew by 4.9 per cent, supported by stable wage growth and labour market conditions while private investment expanded by 5.0 per cent, driven by capital spending in the manufacturing and services sectors.
Public investment growth however moderated in the fourth quarter, following lower growth in fixed assets spending by the Federal Government.
The central bank warned that the economy will likely face a challenging environment in the immediate future.
Growth will continue to be driven by domestic demand, with some support from net exports. "
" The downside risks to growth will however remain, given the continued uncertainty in the external environment and the on-going reforms in the domestic economy."
On a quarter-on quarter seasonally-adjusted basis, the economy grew faster by 1.5 per cent from 0.7 per cent in the previous quarter.
"Despite the challenging economic environment during the quarter, the private sector continued to be the key driver of growth," it said today.
Private consumption grew by 4.9 per cent, supported by stable wage growth and labour market conditions while private investment expanded by 5.0 per cent, driven by capital spending in the manufacturing and services sectors.
Public investment growth however moderated in the fourth quarter, following lower growth in fixed assets spending by the Federal Government.
The central bank warned that the economy will likely face a challenging environment in the immediate future.
Growth will continue to be driven by domestic demand, with some support from net exports. "
" The downside risks to growth will however remain, given the continued uncertainty in the external environment and the on-going reforms in the domestic economy."
Source: Nst.com.my