Malaysia's Q2 growth hits 5.9% – its fastest rate in 18 months -

Central bank expects full-year growth to be at upper end of 4% to 5% forecast range

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Malaysia's economy expanded at its fastest rate in 18 months in the second quarter, helped by stronger household spending, exports and investment, with the central bank forecasting full-year growth to come in near the upper end of its forecast range.

Gross domestic product (GDP) grew 5.9 per cent in the April to June period, data showed on Aug 16, accelerating from 4.2 per cent in the first quarter and surpassing analysts' and early government estimates for a 5.8 per cent rise.

Growth in the period was the quickest since the fourth quarter of 2022, when the economy expanded 7.4 per cent.

On a quarter-on-quarter seasonally adjusted basis, GDP rose 2.9 per cent, compared with a 1.5 per cent rise in the January to March period, data from Bank Negara Malaysia (BNM) and the Statistics Department showed.