Malaysia's economy grows 5.3% on year in Q3, official advance estimate shows

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KUALA LUMPUR, Oct 16 : Malaysia's economy grew 5.3 per cent 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 per cent

• During the July to September period, growth was recorded in all economic sectors except for mining and quarrying, which declined 4.9 per cent 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 per cent, while manufacturing activity grew 7.5 per cent, backed by export-oriented industries, the department said

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• The construction sector rose 6 per cent, 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 per cent to 5.3 per cent forecast range

• It estimates annual economic growth of between 4.2 per cent and 5.2 per cent in 2027

• The central bank has held its main policy rate steady since May last year, when it was cut to 2.75 per cent amid global tariff uncertainties

• Final third-quarter GDP data will be released on November 18

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