Malaysia’s economy contracted at a slower pace in the third quarter after the reopening of the economy and better foreign demand, official data revealed Friday.

Gross domestic product fell 2.7 percent on a yearly basis in the third quarter, following a sharp 17.1 percent decline seen in the second quarter. GDP was forecast to fall 3.2 percent.

Quarter-on-quarter, the economy registered a sharp growth of 18.2 percent, in contrast to a 16.5 percent fall seen in the second quarter.

In the third quarter, headline inflation registered a smaller negative at -1.4 percent, due mainly to the higher domestic retail fuel prices, in line with the recovery in global oil prices. Core inflation moderated slightly to 1.0 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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