Wednesday, February 20, 2013

Malaysia economy grows 6.4 pct in fourth quarter


Malaysia economy grows 6.4 pct in fourth quarter

Malaysia said Wednesday the economy grew a faster-than-expected 6.4 percent in the latest quarter, its best showing in more than two years and a likely boost for the government as elections near.

The central bank, Bank Negara, also said in a statement that Southeast Asia's third-largest economy rose 5.6 percent for full-year 2012, exceeding an earlier government forecast of 5.0 percent.

The 6.4 percent growth in the fourth quarter of 2012 was up from a 5.2 percent expansion achieved in the same quarter the previous year due to steady domestic demand, Bank Negara.

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