Malaysia 1Q economy grows faster than expected

“Exports are expected to improve for the year supported by sustained demand,” said Bank Negara governor Datuk Abdul Rasheed Ghaffour

KUALA LUMPUR: Malaysia’s economy grew faster than expected in the first quarter of 2024, helped by household spending and a turnaround in exports, although some analysts say the rebound could be short-lived with price pressures set to increase.

Gross domestic product rose 4.2% in the January to March period from a year earlier, central bank and government data showed recently, surpassing the 3.9% growth forecast by a Reuters poll and advance estimates released by the government. Annual growth in the final quarter of 2023 was revised down slightly to 2.9%.