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Economy

Malaysia GDP growth slows to 4.3%, lowest in 10 years

Central bank warns of coronavirus impact for first quarter of 2020

Malaysia's Prime Minister Mahathir Mohamad has said the government expects economic growth to come in at 4.8% this year.    © Reuters

KUALA LUMPUR -- Malaysia's gross domestic product rose 4.3% in 2019, slowing down from the 4.7% growth logged in 2018, on shrinking private consumption and slower external demand amid a gloomy global economic picture. GDP grew at its slowest pace in 10 years.

For the October to December quarter, the economy grew 3.6% on the year, -- also the lowest point since the 2009 global financial crisis -- versus an average forecast of 4.2% by 13 economists in a Reuters poll and lower than the 4.9% and 4.4% registered in the second and third quarters of 2019.

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