Malaysia's economy grows 4.2% in 1Q, beating expectations

KUALA LUMPUR: Malaysia's gross domestic product (GDP) grew at a rate of 4.2% in the first quarter of 2024, an increase from 2.9% growth in the preceding quarter as the economy was bolstered by strong private expenditure and a positive turnaround in exports.

The growth was higher than the 3.9% year-on-year increase put forward in an advance estimate by the National Statistics Department as well as in a Bloomberg survey of economists.