Q416 GDP up 4.5%

KUALA LUMPUR: The Malaysian economy grew 4.5% in the fourth quarter of 2016, compared with 4.3% in 3Q16, underpinned by continued expansion in private sector expenditure, according to Bank Negara Malaysia (BNM).
On the supply side, growth continues to be driven by the manufacturing and services sectors. On a quarter-on-quarter seasonally-adjusted basis, the economy recorded a sustained growth of 1.4%.
"Overall, domestic demand expanded at a more moderate pace, as the improvement in private consumption and investment activity was more than offset by the decline in public expenditure," said BNM.
In the fourth quarter, private consumption grew by 6.2%, supported by continued wage and employment growth. On the external front, net exports contributed positively to growth as real exports expanded at a faster rate than real imports.