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Malaysia’s economic growth slows down in Q3

Malaysia recorded a 4.4-percent expansion in its gross domestic product (GDP) in the third quarter of 2019, compared to 4.9 percent in Q2.
Malaysia’s economic growth slows down in Q3 ảnh 1A view of Kuala Lumpur capital of Malaysia (Photo: New Straits Times)

Kuala Lumpur (VNA) – Malaysia recorded a 4.4-percent expansion inits gross domestic product (GDP) in the third quarter of 2019, compared to 4.9percent in Q2.

Governor of the Bank Negara Malaysia (BNM) Nor Shamsiah Mohd Yunus attributedthe slower GDP pace to the lower growth in key sectors and a decline in miningand construction activities.

According to the BNM report, headline inflation in Q3 stood at 1.3 percentcompared to 0.7 percent in Q2. Core inflation, excluding the impact ofconsumption tax policy changes, was steady at 1.5 percent.

The Malaysian ringgit depreciated by 1.1 percent compared to the US dollarbetween July and September due to increased risks amid the prolonged US-Chinatrade war.

The central bank’s leader expected full-year growth will be within projectionsof between 4.3 percent and 4.8 percent, and the pace will sustain in 2020,underpinned mainly by the private sector, particularly household spending whichis supported by continued expansion in employment and income./.
VNA

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