Economy grows 3.8 pct in second quarter: Bank Negara

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The country's recovery gained momentum in the second quarter to June with the economy growing a stronger-than-expected 3.8 percent from a year earlier, the central bank said today.

Growth in gross domestic product (GDP) during the three months was a robust 3.9 percent compared with the first quarter due to a strong recovery in exports and domestic demand.

"The Malaysian economy expanded at a stronger pace in the second quarter of 2002. Sustained strength in domestic demand and a recovery in exports raised real GDP growth to 3.8 percent on an annual basis from 1.1 percent in the first quarter," Bank Negara governor Zeti Akhtar Aziz told a press conference.

Private consumption rose 5.6 percent from a year earlier in the second quarter compared with 3.0 percent in the first quarter, while public sector consumption jumped 15.4 percent, she said.

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