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Malaysia's Q3 GDP fall slows to 2.7% under persistent COVID cloud

'Not all is gloom and doom,' central banker says amid virus resurgence

Malaysia's economy is gradually coming back to life after a strict coronavirus lockdown earlier this year, but a recent wave of infections poses a threat.   © Reuters

KUALA LUMPUR -- Malaysia’s economy contracted 2.7% in the June-September quarter, the central bank announced on Friday, signaling a turnaround from the worst of the coronavirus pandemic's business-crippling effects.

The country's gross domestic product had plunged 17.1% on the year in the second quarter, and 16.4% in the first half, largely due to restrictions on movement. The quarterly decline seen in April through June marked the first since the global financial crisis days of 2009.

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