Malaysian Economy Moderates In Mid-2023

Summary

• Malaysian economic growth moderated to a pace of 2.9% year-on-year (y/y) in the second quarter of 2023, compared to growth of 5.6% y/y in the first quarter of 2023.
• Merchandise exports have been weak during the first seven months of 2023, declining by 5.9% y/y.
• Measured on a quarter-on-quarter basis, the Malaysian economy grew by 1.5% q/q in the second quarter of 2023, improving significantly on the 0.9% q/q pace in the first quarter of 2023.

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Malaysian economic growth moderated to a pace of 2.9% year-on-year (y/y) in the second quarter of 2023, compared to growth of 5.6% y/y in the first quarter of 2023.

However, when measured on a quarter-on-quarter (q/q) basis, the pace