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Friday, February 18, 2011

Malaysia's Growth Undermined By Moderating External Demand Going Forward

KUALA LUMPUR, Feb 18 (Bernama) -- The pace of growth of the Malaysian economy will be affected by the environment of moderating external demand following the uneven global economic recovery going forward, according to Bank Negara Malaysia.

Growth, nevertheless, will be supported by the continued firm expansion in domestic demand, it said in a statement in releasing the country's gross domestic product (GDP) figures Friday.

Malaysia recorded a commendable growth of 7.2 per cent in 2010, with quarterly growths of 10.1 per cent, 8.9 per cent and 5.3 per cent in the earlier three quarters with the final quarter growing by 4.8 per cent.

The central bank said slower growth in the global economy had led to a weaker growth in external demand in the fourth quarter.

However, domestic demand strengthened by 5.7 per cent in the fourth quarter from 5.0 per cent in the third, due mostly to the strong expansion in private consumption and capital spending.

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