Malaysia records 8.9pc Q2 GDP growth in as conditions improve post-pandemic

Malay Mail
Malay Mail

KUALA LUMPUR, Aug 12 — Malaysia's gross domestic product (GDP) rose by 8.9 per cent in the second quarter of 2022 compared to the previous quarter, Chief Statistician Datuk Seri Mohd Uzir Mahidi announced today.

According to Uzir, the GDP increased from 5.0 per cent in the last quarter, due to improved domestic demand and labour conditions, in addition to the reopening of international borders as the country transitions towards endemicity.

Unemployment claims had also fallen significantly, Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd Yunus said in the joint press conference at Sasana Kijang here.

However, Shamsiah said that improvements in some segments continued to lag behind others, and that 20 per cent of the economy still remains below pre-pandemic levels, pointing to the construction sector as an example.