Malaysia GDP Growth Moderates In Q2

(RTTNews) - Malaysia's economy grew at a slower pace in the second quarter on weak exports, official data showed on Friday.

Gross domestic product registered an annual growth of 2.9 percent in the second quarter after rising 5.6 percent in the previous quarter.

On a quarterly basis, GDP growth improved to 1.5 percent from 0.9 percent.

On the demand side, the growth was attributed by private final consumption expenditure and gross fixed capital formation.

The growth in final consumption expenditure moderated to 4.2 percent from 4.5 percent in the previous quarter. Private final consumption expenditure moved up 4.3 percent and government spending gained 3.8 percent.

Gross fixed capital formation was up 5.5 percent. On foreign trade, data showed that exports declined 9.4 percent and imports fell 9.7 percent in the second quarter.