Malaysia second-quarter GDP growth slowing on weaker private consumption

Malaysia's economic growth is expected to have slowed slightly in the second quarter as weaker private consumption partly offset a boost from resilient manufacturing and trade, a Reuters poll showed.

The economy likely grew 5.4 percent in April-June from the same period a year earlier, cooling from a 5.6 percent pace in the first quarter, according to the median forecast from 12 economists surveyed.

Forecasts ranged from 4.9 to 6.0 percent.

Malaysia's economy grew faster than expected in January-March as solid exports and strong domestic demand produced the fastest growth in two years.

The central bank expects full-year growth to come in at 4.3-4.8 percent, up from 4.2 percent in 2016, which was the lowest rate since contracting in 2009.

(REUTERS)