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The Malaysian economy expanded by 5.3% in the third quarter of 2024 (3Q24) compared to 5.9% in 2Q24, driven by strong investment activity and continued improvement in exports.
Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Abdul Ghaffour said the growth in GDP was supported by the strong increase in the overall investment activities, higher exports of goods and services, and expansion in household spending amid positive labour market conditions and policy support.
However, the governor said lower oil and gas production amid maintenance activity would be the among the factors that weight on the GDP growth in moving forward.
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