Malaysia 3Q GDP Grows 6.2%, Beating Expectations

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia--Malaysia's economy grew faster than expected in the third quarter of this year, driven by robust private sector spending, continued strength in exports and expansion across all economic sectors, according to the country's central bank on Friday.

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Gross domestic product in the in July-September period climbed 6.2% from the same period a year earlier, according to Bank Negara Malaysia.

The figures for the quarter exceeded the 5.8% growth recorded in the second quarter of this year. It was also faster than the median 5.7% growth forecast from a Wall Street Journal poll of 10 economists.

The result marks the fifth consecutive quarter of accelerating economic growth and was the strongest since the second quarter of 2014.

On a sequential basis, a closer measure of the economy's recent momentum, Malaysia's economy grew 1.8% on a seasonally adjusted basis in the third quarter.

3Q 2Q

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Gross Domestic Product +6.2% +5.8%

Manufacturing +7.0% +6.0%

Services Sector +6.6% +6.3%

Mining Sector +3.1% +0.2%

Agriculture Sector +4.1% +5.9%

Construction Sector +6.1% +8.3%

Private Sector Consumption +7.2% +7.1%

-- Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

November 16, 2017 23:14 ET (04:14 GMT)