KUALA LUMPUR: Malaysia’s economy grew a faster than expected 5.8 percent in the fourth quarter from a year earlier, picking up from 5.6 percent growth in the third quarter, even as falling oil prices and sluggish global demand hit exports.
Full year growth in 2014 was 6.0 percent, the central bank said on Thursday, up from the 4.7 percent in 2013.
The central bank said the current account surplus narrowed to 6.1 billion ringgit ($1.68 billion) in the quarter from 7.6 billion ringgit in the third quarter of 2014.
Economists in a Reuter’s poll expected the economy in the fourth quarter to grow 5 percent from a year earlier, and expand 5.8 percent for the full year.
($1 = 3.6210 ringgit)