Malaysia’s economic growth moderated slightly in the first quarter, data published by the Department of Statistics showed Friday.
Gross domestic product grew 5.6 percent on a yearly basis in the first quarter, slightly slower than last quarter’s 5.7 percent expansion. Nonetheless, the annual growth was faster than the expected increase of 5.5 percent.
Quarter-on-quarter, GDP expanded 1.2 percent but slower than the 1.8 percent growth seen in the fourth quarter.
On the production side, the service sector logged an annual growth of 6.4 percent and manufacturing rose 5.6 percent. At the same time, mining and quarrying registered a strong 9.6 percent expansion.
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