Malaysia economic growth slows to 5 per cent in 2015
Kuala Lumpur - Malaysia's economic growth in 2015 slowed to 5 per cent compared to 6 per cent a year ago, as the oil-exporting country struggles with a continued slump in crude prices, the government said Thursday.
In the fourth quarter of 2015, national gross domestic product grew by 4.5 per cent year-on-year, compared to 5.7 per cent in the same period in 2014, data from the Statistics Department showed.
Bank Negara Malaysia, the country's central bank, said the private sector continued to be the key driver of growth.
"Private consumption grew by 4.9 per cent (in the fourth quarter) supported by stable wage growth and labour market conditions," it said in a statement.
- DPA
