Malaysia GDP up 5.6% in Q1, topping forecasts as inflation settles

Domestic demand powering growth amid global headwinds, central bank says

20230512 malaysia shopping

Muslims shop for food to break their fast at a bazaar during Ramadan in Kuala Lumpur on April 15. © Reuters

NORMAN GOH, Nikkei staff writer

KUALA LUMPUR -- Malaysia's economy grew 5.6% on the year in the January-March quarter of 2023, outperforming economists' expectations.

Before Friday's announcement by Bank Negara Malaysia (BNM), a median forecast of 21 economists polled by Reuters had pointed to growth of 4.8%, down from a revised 7.1% in the fourth quarter of 2022.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.