Malaysia economy grows 5.4% in second quarter
KUALA LUMPUR, Malaysia (AP) - Malaysia's central bank says the country's economy expanded 5.4 per cent in the quarter through June, as robust domestic demand and strong government spending cushioned the impact of global economic turbulence.
Bank Negara Malaysia says on Wednesday that the global economy faces increasing risks from Europe's debt crisis and the US budget deficit.
However, it said that strong support provided by domestic demand as well as private and public spending will sustain Malaysia's economy. It revised first quarter growth to 4.9 per cent from 4.7 per cent.
The government has forecast economic growth to slow to between 4 and 5 per cent this year, down from 5.1 per cent in 2011.