The Petronas Twin Towers, left, and other buildings in Kuala Lumpur, Malaysia, on Friday. Malaysia's economy grew faster than expected in the second quarter, driven by the services sector, even as the country contends with US President Donald Trump’s rollout of global tariffs.
Gross domestic product rose 4.5% in the April-June period from a year earlier, according to advance estimates from the Department of Statistics Malaysia. That’s higher than the 4.2% median estimate in a Bloomberg survey, and faster than the 4.4% expansion in the first three months of the year.
The latest economic print may give breathing space to policymakers as they review their 4.5-5.5% growth projection for 2025. Malaysia has been threatened with a 25% US import levy and officials are racing to negotiate the tariff lower before they take effect on August 1.
The Petronas Twin Towers, left, and other buildings in Kuala Lumpur, Malaysia, on Friday.