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Highlight Malaysian economy seen growing 'at a slower rate' - Statistics Department
by Cals Sat 25 Jun 2016, 20:36
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[size=28]Malaysian economy seen growing 'at a slower rate' - Statistics Department
By Christina Ramani / theedgemarkets.com | June 24, 2016 : 1:19 PM MYTKUALA LUMPUR (June 24): The Statistics Department said Malaysia's economic growth was expected to be slower in the near term, based on the department's economic indicators.
In a statement today, the department said its leading and coincident indices fell in April from a month earlier. The leading index monitors economic performance in advance while the coincident gauge measures current economic activity.
According to the department, the leading and coincident indices decreased 1.1% in April from a month earlier.
"Based on this scenario, it is expected that the economic growth will continue to expand at a slower rate in the near term," the department said.
Last month, Bank Negara Malaysia said the country's economy, as measured by gross domestic product (GDP), grew 4.2% in the first quarter of 2016 from a year earlier.
During 2015's fourth quarter, GDP expanded 4.5% on year, according to Bank Negara.
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