Malaysia's economy grew 5.3% in the third quarter from a year earlier, slowing from an 18-month high in the previous quarter, the government and central bank said on Friday. Economists surveyed by Reuters had forecast annual gross domestic product growth of 5.

Malaysia’s economy expanded as expected in the third quarter, while remaining on track to meet official forecasts on a surge in investments and increased domestic spending.

The economy’s robust performance in the third quarter of this year (Q3 2024) puts the country on track to achieve the government’s official forecast range of 4.8-5.3% GDP growth for the year, says the finance ministry.

Malaysia's economic growth likely slowed but only modestly in the third quarter compared to a year earlier as solid private consumption and construction activity cushioned the impact of declining mining output,

Bank Negara Malaysia attributes the performance to a strong increase in investment activities amid higher exports.