Malaysia's Q3 GDP Advance Estimate Beats Forecasts at 5.3%; Ringgit Firmer on Monday
Malaysia's economy expanded 5.3 percent year on year in the third quarter, according to advance estimates from the Department of Statistics Malaysia, beating expectations as manufacturing and services growth offset a contraction in mining; growth in the second quarter was 6.0 percent. The International Monetary Fund projects Malaysia's GDP to grow 5.2 percent in 2026 and 4.7 percent in 2027. In the first trading session after the data (Monday, Oct. 19), the ringgit opened mostly higher against major and regional currencies, little changed against the U.S. dollar at 4.0790/0855 compared with Friday's close of 4.0795/0835, while strengthening against the euro, pound, Singapore dollar and Thai baht. Bank Muamalat Malaysia chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that stronger-than-expected growth could reinforce expectations of policy normalisation, and he expected the ringgit to trade between RM4.07 and RM4.08 against the dollar on Monday, though concerns over SI-stock valuations might push investors toward safe-haven assets. Malaysia's September inflation data is due this week, with economists forecasting a rise of about 2.0 percent year on year.
Source: GSM · USA (original Chinese edition)
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