Growth held steady at 4.4% in 2Q25, full-year forecast maintains at 4.3%
GDP growth held steady at 4.4% YoY in 2Q25 (1Q25: 4.4%), slightly below expectations (KIBB: 4.5%; Bloomberg consensus: 4.5%; Department of Statistics’ (DOSM) advance estimate: 4.5%)
- Growth was driven by resilient domestic demand and continued expansion in the services sector. However, weak net exports and a deeper mining contraction capped overall momentum.
- Meanwhile, seasonally adjusted QoQ picked up to 2.1% (1Q25: 0.7%), reflecting firmer sequential performance.
- Within ASEAN-5 (+VN, excluding TH), Malaysia tied with Singapore for fourth place in 2Q25 GDP growth, behind Vietnam (8.0%), Philippines (5.5%), and Indonesia (5.1%).
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