August 19, 2019 / 3:04 AM / a month ago

CORRECTED-Fitch raises Malaysia 2019 GDP growth forecast to 4.6% on solid H1

(Corrects to say Fitch Solutions, not Fitch Ratings, in 1st paragraph)

KUALA LUMPUR, Aug 19 (Reuters) - Fitch Solutions on Monday revised its 2019 growth forecast for Malaysia to 4.6%, up from 4.2%, after the country’s stronger-than-expected growth rate over the first half.

Malaysia’s central bank reported second quarter economic growth of 4.9% on Friday, making Southeast Asia’s third-largest economy the only one in the region to show some acceleration from the first quarter.

“The revision reflects the stronger-than-expected average growth rate of 4.7% y-o-y in H119, as well as our view for private consumption to remain strong and for the deceleration in investment growth to bottom out,” Fitch said firm said in a statement. (Reporting by Joseph Sipalan; Editing by Richard Borsuk)

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