May 13, 2020 / 4:18 AM / 24 days ago

Malaysia's Q1 economic growth slows to 0.7%, better than f'cast

KUALA LUMPUR, May 13 (Reuters) - Malaysia’s economy grew at a slower pace of 0.7% in the first quarter from a year earlier, better than expected in spite of the impact of the coronavirus pandemic on exports and domestic demand.

The pace of expansion was better than the 1.5% decline forecast in a Reuters poll, though still below the 3.6% growth rate in the fourth quarter.

Bank Negara Malaysia said the coronavirus outbreak has affected growth across major and regional economies, many of which imposed lockdowns that crimped economic activity and demand, including in Malaysia. (Reporting by Joseph Sipalan; Editing by Jacqueine Wong)

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