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Malaysia GDP grows 4.9% in 2Q19, driven by services, manufacturing

The Edge logo The Edge 16/8/2019 Surin Murugiah
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KUALA LUMPUR (Aug 16): Malaysia's economy expanded 4.9% in the second quarter of 2019 (2Q19), after posting a growth of 4.5% during 1Q19, according to the Department of Statistics Malaysia.

In a statement today, chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said all sectors in the economy posted a positive growth, primarily supported by services and manufacturing sectors.

"On the expenditure side, the growth was driven by the sustained performance in private final consumption expenditure and external trade," he said.

Mohd Uzir said services grew 6.1%, backed by wholesale and retail trade, information and communication, accommodation, and food and beverage.

"Manufacturing sector increased to 4.3% contributed by electrical, electronic and optical products, and petroleum, chemical, rubber and plastic products.

"Meanwhile, mining and quarrying sector rebounded to 2.9% driven by the recovery in natural gas production.

"Agriculture sector posted a growth of 4.2% following a moderation in oil palm and contraction in fishing, and forestry and logging. Construction sector grew marginally at 0.5% contributed by civil engineering and specialised construction activities," he said.

Mohd Uzir added that the Consumer Price Index in 2Q19 recorded an increase of 0.7% as compared to negative 0.3% in 1Q19.

"The Producer Price Index for local production decreased 1.6% as compared to negative 2.2% in the previous quarter," he said.

Meanwhile, he said employed persons recorded an increase of 2.1% in 2Q19 to 15.1 million persons.

"Approaching the third quarter of 2019, the signal of Leading Index indicates that the Malaysia's economy will experience a better growth," he said.

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