Malaysia Q2 GDP grows 4.9% from a year earlier, beats forecast

Malaysia's economy grew 4.9 per cent in the second quarter from a year earlier, slightly above expectations.
Malaysia's economy grew 4.9 per cent in the second quarter from a year earlier, slightly above expectations.PHOTO: BLOOMBERG

KUALA LUMPUR (REUTERS) - Malaysia's economy grew 4.9 per cent in the second quarter from a year earlier, slightly above expectations despite weak commodity prices and domestic demand in the period.

The growth pace is the slowest since the third quarter of 2013, when the economy also expanded 4.9 per cent on an annual basis.

In the first quarter, Malaysia's economy grew 5.6 per cent from a year earlier.

The country's current account surplus narrowed to RM7.6 billion (S$ 2.7 billion) in the second quarter from RM10 billion in the first quarter of 2015.

Economists polled by Reuters expected annual gross domestic product (GDP) growth to slow to 4.5 per cent in the second quarter as domestic consumption cooled and manufacturing exports weakened.