Malaysian economy expands 5.2% in third quarter
KUALA LUMPUR (AFP) - Malaysia's economy grew a better-than-expected 5.2 per cent in the third quarter as domestic demand continued to compensate for a slowdown in exports, the government said on Friday.
The central bank said South-east Asia's third-largest economy expanded due to private consumption and private and public investment in such sectors as transportation, oil and gas, and public utilities.
This managed to offset a further decline in demand abroad for the export-reliant country's goods and services as its key partners, such as the US and Europe, are struggling amid the global economic crisis.
"Going forward, the more challenging international environment would present risks to Malaysia's growth prospects," Bank Negara said in a statement.