The Malaysian economy continued to expand at a 5.00% GDP growth rate in the third quarter of 2013 as compared to 4.3% in the second quarter of 2013, largely backed by domestic demand. Domestic demand expanded 8.3% (2Q13: 7.3%), driven by higher private consumption (3Q13: 8.2%; 2Q13: 7.2%) and double-digit growth rates in the private and public investments at 15.2% and 1.3% respectively. On the supply side, the construction sector rose and continued to record its highest growth rate at 10.1%, followed by the services sector (5.9%) and manufacturing sector (4.2%). According to Central Bank of Malaysia, agriculture activities surged to a 2.1% growth rate due to a higher production of vegetables and fruit, poultry and cattle. As reported by the Department of Statistics, the inflation rate registered an increase of 2.8% in the third quarter of 2013 from the 1.9% inflation rate recorded in the second quarter of 2013. Meanwhile, unemployment rate remained unchanged at 3.1% (2Q13: 3.1%). On 7 November 2013, Central Bank of Malaysia announced that the Overnight Policy Rate will continue to maintain at an accommodative level of 3%.
Source : Cushman & Wakefield