KUALA LUMPUR, Feb 14 ― Malaysia's economy grew more rapidly than expected in the fourth quarter of 2017, capping a year of robust growth.
Data released by the central bank today showed annual growth of 5.9 per cent in the fourth quarter.
The median forecast of a Reuters poll of 12 economists was for growth to cool to 5.7 per cent after the 6.2 per cent pace in the third quarter.
Full-year 2017 growth came in at 5.9 per cent, Bank Negara Malaysia (BNM) said in a statement. The pace in 2016 was 4.2 per cent.
The central bank said fourth-quarter growth was driven by private sector expenditure, supported by continued wage and employment growth.
In October, the government revised up its 2017 full-year growth projection to 5.2-5.7 per cent, from 4.3 per cent to 4.8 per cent. ― Reuters