Malaysia's economy grows 5.6% in Q1, above forecast

Reuters

12/05/2023

04:45 MYT

Malaysia's economy grows 5.6% in Q1, above forecast

Economists surveyed by Reuters had forecast annual gross domestic product growth would come in at 4.8% in the January to March period - File Pic Reuters

KUALA LUMPUR: Malaysia's economy in the first quarter grew 5.6% from a year earlier due to an expansion in private consumption and investments, central bank and government data showed on Friday.

Economists surveyed by Reuters had forecast annual gross domestic product growth would come in at 4.8% in the January to March period, slowing from the 7% rise seen in the fourth quarter of 2022.