• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Malaysia’s economy grows 5.3% y/y in Q3

by November 15, 2024
written by November 15, 2024

KUALA LUMPUR (Reuters) – Malaysia’s economy grew 5.3% in the third quarter from a year earlier, slowing from an 18-month high in the previous quarter, the government and central bank said on Friday.

Economists surveyed by Reuters had forecast annual gross domestic product growth of 5.3% in the July-to-September period, down from 5.9% in the previous quarter. The poll forecast matched the government’s advance estimate released last month.

Third quarter growth was driven by strength in investment and exports, Bank Negara Malaysia (BNM) said.”Growth of the Malaysian economy will be driven by robust expansion in investment activity, continued improvement in exports, and resilient household spending” BNM Governor Abdul Rasheed Ghaffour said in a statement.

Headline and core inflation have averaged 1.8% year-to-date, and were expected to stay manageable going into 2025, BNM said.

However, the inflation outlook remained subject to the impact of government policies, global commodity prices and financial market developments.

The government plans to cut blanket subsidies for a widely used transport fuel in the middle of 2025, having done so for diesel, electricity, and chicken this year.

Last month, the government raised its 2024 economic growth forecast to a range of 4.8% to 5.3%, from 4% to 5% previously.

The central bank said the ringgit’s strength in the third quarter was partly due to the U.S. Federal Reserve’s shift to an easing cycle, and said Malaysia’s economic outlook and reforms would support the currency over the medium term.

The ringgit has recovered from a 26 year-low in February to be about 2% stronger against the dollar this year.

Earlier this month, the central bank held its key interest rate unchanged at 3.00%, reflecting its favourable outlook for growth and inflation.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Netflix hopes for live sports knockout with Paul-Tyson fight
next post
Japan October inflation likely eased, exports picked up – Reuters poll

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • Bank of NY Mellon earnings beat by $0.03, revenue topped estimates
    • BOJ produces estimates on how future rate hikes affect earnings

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy