KUALA LUMPUR, Oct 16 (Reuters) - Malaysia's economy grew 5.3% from a year earlier in the third quarter, slowing from the previous three-month period, official advance estimates showed on Friday.
• In the second quarter, gross domestic product expanded 6%
• During the July to September period, growth was recorded in all economic sectors except for mining and quarrying, which declined 4.9% from a year earlier, the statistics department said in a statement
• Expansion in the quarter was driven by the services
sector which rose 5.4%, while manufacturing activity grew 7.5%, backed by export-oriented industries, the department said
• The construction sector rose 6%, supported in part by rising data centre development projects, it said
• Malaysia, a regional data centre hub, has benefited from a global boom in artificial intelligence infrastructure that has driven demand for its tech products and semiconductors
• The government last week raised 2026 growth projections for the second time this year, with the economy expected to expand close to the upper end of a 4.8% to 5.3% forecast range
• It estimates annual economic growth of between 4.2% and 5.2% in 2027
• The central bank has held its main policy rate steady since May last year, when it was cut to 2.75% amid global tariff uncertainties
• Final third-quarter GDP data will be released on November 18
(Reporting by Rozanna Latiff; Editing by David Stanway)
