The Malaysian economy contracted by 3.9% in the second quarter (2Q) of 2009 from a year ago, but the worst was over as the economy showed a slower decline from the contraction of 6.2% in 1Q.
Based on data by the Statistics Department on Aug 26, the economy expanded 4.8% on a quarter-on-quarter basis.
It said the manufacturing sector fell by 14.5% in this quarter, but improving from the previous quarter's contraction of 17.9%. All its sub-sectors registered negative growth except for Food, Beverages and Tobacco sub-sector which registered a growth of 1%.
The sub-sectors which contributed mainly to the decline were electric & electronic products (down 27.3%), non-metallic & metal products (down 15.3%) and wood products
(down 18.7%).
The department said the mining and quarrying sector continued to post its fifth consecutive negative growth. It contracted by 2.6% largely due to the decrease in production of crude oil.
The services sector recorded a better performance in 2Q with a turnaround from a negative 0.2% to an increase of 1.6%. This was mainly due to the improvement in most of the Services sub-sectors.
The construction sector expanded further by registering a growth of 2.8% in this quarter as compared to a 1.1% increase in the preceding quarter.
The agriculture sector grew 0.3% as compared to the negative growth of 4.3% in the previous quarter.
Final consumption expenditure grew by 0.6% after contracting 0.2% in the first quarter. Private final consumption expenditure rose 0.5% from the negative 0.7% in the last quarter. Meanwhile, government final consumption expenditure increased by 1.0%. |
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