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Malaysia's economy grows by 4.3 pct in Q3
2016/11/14 15:02:21 Source:Xinhua

KUALA LUMPUR, Nov. 11 (Xinhua) -- Malaysia's economy grew by 4.3 percent in the third quarter of 2016, in line with the government's growth target, the central bank said Friday.

The growth rate rebounded from 4.0 percent in the previous quarter, underpinned mainly by continued expansion in private sector spending and additional support from net exports, the central bank said in a statement.

Domestic demand grew at a more moderate pace, as the sustained growth in private sector activity was more than offset by the slower growth in public spending, it said.

On the supply side, growth continued to be driven by the major economic sectors, supported mainly by services and manufacturing, while the agriculture sector remained weak, it added.

The central bank said Malaysia's economy is expected to expand by 4 to 4.5 percent this year, but warned against uncertainties in the external environment that might pose downside risks to Malaysia's growth prospects despite resilient domestic conditions.

Malaysian Prime Minister Najib Razak said last month when announcing the new budget that the gross domestic product (GDP) would expand 4 to 5 percent in 2017.

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