Malaysia records 4.2% GDP growth for Q1 2024

 

Bank Negara Malaysia says the 4.2% growth rate was driven by stronger private expenditure and positive turnaround in exports. (AP pic)

PETALING JAYA: Malaysia has achieved a gross domestic product (GDP) growth of 4.2% for the first quarter of 2024 (Q1 2024), says Bank Negara Malaysia.

In a statement, the central bank said the 4.2% growth rate was driven by stronger private expenditure and positive turnaround in exports.

In the fourth quarter of 2023, Malaysia recorded a GDP growth rate of 2.9%.

Meanwhile, headline inflation for Q1 2024 remained moderate at 1.7%, in comparison with 1.6% in the final quarter of last year. - FMT

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