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Wednesday, February 12, 2020

Malaysia's fourth-quarter economic growth slumps to decade-low of 3.6%, below forecast

© Reuters.  Malaysia's fourth-quarter economic growth slumps to decade-low of 3.6%, below forecast© Reuters. Malaysia's fourth-quarter economic growth slumps to decade-low of 3.6%, below forecast

KUALA LUMPUR (Reuters) - Malaysia's economy grew 3.6% in the fourth quarter from a year earlier, the central bank said on Wednesday, the slowest pace in a decade due to lower output of palm oil, crude oil and natural gas, and a fall in exports amid the U.S.-China trade war.

The pace of expansion was well below the 4.2% rise forecast in a Reuters poll, and slower than 4.4% in the third quarter.

Full-year growth came in at 4.3%, below the government's forecast of 4.7% and the weakest since 2016.

Bank Negara Malaysia said a coronavirus outbreak in China would affect the country's 2020 growth, particularly in the first quarter.

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