Malaysia’s economy grows 5.3pc
KUALA LUMPUR: Malaysia’s economy grew 5.3 percent from a year earlier in the third quarter, slowing from the previous three-month period, official advance estimates showed on Friday. In the second quarter, gross domestic product expanded 6 percent. During the July to September period, growth was recorded in all economic sectors except for mining and quarrying, which declined 4.9 percent from a…
Malaysia's economy expanded by 5.3 percent year-on-year in the third quarter, according to official advance estimates released on Friday. This figure represents a slowdown from the previous quarter, which recorded a 6 percent growth. The statistics department revealed that growth was observed across all sectors except for mining and quarrying, which experienced a decline of 4.9 percent compared to the previous year.
The services sector led the expansion, growing by 5.4 percent, while manufacturing activity increased by 7.5 percent, largely due to export-oriented industries. Construction also saw a rise of 6 percent, aided by the surge in data centre development projects. Malaysia, a key regional data centre hub, has benefited from the global surge in artificial intelligence infrastructure, driving demand for its tech products and semiconductors.
The government recently raised its growth projections for 2026 for the second time this year, with the economy expected to expand close to the upper range of a forecasted 4.8 percent to 5.3 percent. The central bank has maintained its main policy rate at 2.75 percent since May last year, when it was reduced amid global tariff uncertainties. The final third-quarter GDP data is scheduled to be released on November 18.
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