Malaysian growth rate exceeds target


Bank Negara Malaysia revealed on August 15 that the Malaysian economy grew at an annual rate of 5.4% in the second quarter of 2012, 50 basis points higher than in Q1 and surpassing the 4%-5% level forecast in the central bank's annual report, which was published in March.

The growth was driven by strong domestic demand, which rose by 13.8%, an increase of 4.1 percentage points on the first quarter. Similarly, private consumption rose by 8.8%, "supported by firm labour market conditions, robust

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