In line with the moderate growth pace of the global economy, the Malaysian economy grew 4.0 percent in the second quarter, leading to a 4.1 percent growth in the first half of 2016.
In a statement, Bank Negara Malaysia (BNM) said domestic demand was stronger during the quarter under review but growth was weighed down by the continued decline in net exports and a significant drawdown in stocks.
The country's gross domestic product (GDP) growth stood at 4.2 percent in Q1 and 4.9 percent in Q2 2015.
Meanwhile, private sector activity remained the key driver of growth, expanding at a faster pace of 6.1 percent in Q2 against 4.5 percent in Q1.
It said private consumption grew 6.3 percent against 5.3 percent in Q1, supported by continued wage and employment growth, as well as, the additional disposable income from government measures.
Private investment grew at a faster pace of 5.6 percent compared with 2.2 percent in Q1, driven mainly by continued capital spending in the services and manufacturing sectors.
As for public investment, the central bank said growth turned around to register a positive growth of 7.5 percent compared with -4.5 percent in Q1, on account of higher spending on fixed assets by both the Federal government and public corporations.
Growth of public consumption also improved in Q2 to 6.5 percent from 3.8 percent in Q1, due mainly to higher spending on supplies and services.
On the supply side, BNM said all economic sectors continued to expand, with the exception of the agriculture sector.
The higher growth in the services sector, up 5.7 percent from 5.1 percent in Q1, was underpinned primarily by stronger household spending.
The manufacturing sector was supported by the electronics and electrical cluster, growing 4.1 percent in Q2 against 4.5 percent in Q1.
It said growth in the construction sector was stronger, dominated by the civil engineering sub-sector.
Meanwhile, performance in the mining sector improved 2.6 percent against 0.3 percent in Q1, due mainly to higher crude oil and natural gas production.
However, growth in the agriculture sector declined 7.9 percent compared with a contraction of 3.8 percent in Q1, due to the lagged impact of El NiƱo on crude palm oil production.
Bernama
Fri Aug 12 2016
BNM says domestic demand was stronger during the quarter under review but growth was weighed down by the continued decline in net exports and a significant drawdown in stocks. - Reuters/Files
PM Anwar ke Riyadh sempena Mesyuarat Khas Forum Ekonomi Sedunia
Mesyuarat Khas bertemakan "Global Collaboration, Growth and Energy Development" akan dihadiri oleh Ketua-ketua Negara dan Kerajaan serta pemimpin industri.
Proses penamaan calon berlangsung 9 pagi ini
Pilihan Raya Kecil (PRK) Dewan Undangan Negeri (DUN) Kuala Kubu Baharu (KKB) membuka tirai hari ini dengan bermulanya proses penamaan calon di Dewan Serbaguna Dan Kompleks Sukan Daerah Hulu Selangor.
Penunggang motosikal berkuasa tinggi maut nahas
Mangsa lelaki berusia 34 tahun yang bekerja sebagai pemuzik di DBKL meninggal dunia di tempat kejadian.
Bebaskan pasaran buruh dari perangkap gaji berasaskan kelayakan akademik - Penganalisis
Malaysia harus beralih ke arah penetapan gaji berdasarkan kompetensi pekerja.
Raja Charles III sambung tugas awam minggu depan
Raja Britain, Raja Charles ketiga akan meneruskan tugas awamnya minggu depan setelah cataT perubahan baik dalam rawatan kanser. Baginda akan memulakan dengan lawatan simbolik ke pusat rawatan kanser.
Demonstrasi pro-Palestin di kampus universiti AS
Demonstrasi pro-Palestin tercetus di beberapa kampus utama Amerika Syarikat. Pelajar menuntut gencatan senjata kekal dan menekan Washington untuk menamatkan sumbangan dana tentera kepada Israel.
Dakwaan Israel: PBB masih siasat 8 individu
Pasukan Khas PBB menutup satu kes dan menggantung tiga kes berhubung dakwaan terhadap 12 petugas UNRWA yang terlibat dengan Hamas, susulan kekurangan bukti dari Israel.
Hamas mahu gencatan senjata bersyarat
Hamas komited kuatkuasa gencatan senjata dalam perang dengan Israel, namun dengan syarat yang dituntut.
Penghidap kanser tulang impikan telefon bimbit
Siti Zubaidah, calon SPM yang mengidap kanser tulang, bercita-cita memiliki telefon bimbit untuk merakam kenangan sebelum pergi. Petronas merealisasikan impian ini melalui program 50 Dreams.
Malaysia seru pihak terlibat supaya bertenang dan minta siasatan dijalankan terhadap isu kemanusiaan di Gaza
Malaysia seru semua pihak yang terlibat supaya bertenang dan menghentikan tindakan provokatif yang boleh memburukkan lagi konflik di rantau Asia Barat.