Malaysia's growth quickens to two-year high, beating forecasts

(May 19): Malaysia’s economy grew at the fastest pace in two years last quarter, lifted by an export recovery and stronger private consumption and investment.

Key Points

• Gross domestic product rose 5.6% from a year earlier, Bank Negara Malaysia said in a statement Friday. Growth was 4.5% in the fourth quarter
• The median estimate of 22 economists surveyed by Bloomberg was 4.8%
• Compared with the previous quarter, GDP rose 1.8% versus the 1.2% economists had forecast

Big Picture
Malaysia’s economy is picking up speed, driven by household spending and a recovery in exports that’s helped by higher oil prices. The central bank forecast growth of as much as 4.8% this year from 4.2% in 2016.

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