KONTAN.CO.ID - KUALA LUMPUR. Malaysia's economy shrank by less than expected in the third quarter from a year earlier as consumers increased spending and businesses resumed activity after the government eased some coronavirus curbs, the central bank said on Friday. The economy fell 2.7% in the July-September period, by less than the 3.2% fall forecast in a Reuters poll. Gross domestic product (GDP) dropped 17.1% in the second quarter, marking the country's first economic contraction since the 2009 global financial crisis. The economy improved significantly in the third quarter as businesses and employment picked up, providing a boost for domestic spending and activity across most sectors, Bank Negara Malaysia (BNM) said.
Malaysia sees smaller contraction in Q3 on easing coronavirus curbs
KONTAN.CO.ID - KUALA LUMPUR. Malaysia's economy shrank by less than expected in the third quarter from a year earlier as consumers increased spending and businesses resumed activity after the government eased some coronavirus curbs, the central bank said on Friday. The economy fell 2.7% in the July-September period, by less than the 3.2% fall forecast in a Reuters poll. Gross domestic product (GDP) dropped 17.1% in the second quarter, marking the country's first economic contraction since the 2009 global financial crisis. The economy improved significantly in the third quarter as businesses and employment picked up, providing a boost for domestic spending and activity across most sectors, Bank Negara Malaysia (BNM) said.