Malaysia records stronger economic growth in Q3 at 14.2%: Bank Negara

[superadmin]

KUALA LUMPUR – Malaysia’s economy marked stronger growth in the third quarter of this year, at 14.2% compared to 8.9% in the second quarter, Bank Negara Malaysia said.

The central bank attributed growth to strong domestic demand, improvements in the labour market and income conditions, as well as ongoing policy support.

“Exports remained supported by strong demand for E&E products. The recovery of inbound tourism lent further support to economic activity. By sector, the services and manufacturing sectors continued to drive growth,” BNM said in a statement today.

“Overall, the Malaysian economy expanded by 9.3% in the first three quarters of 2022,” it added.

For next year, the economy is expected to expand by 4.0% to 5.0%, supported by firm domestic demand amid continued improvements in the labour market.

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