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Malaysia’s private consumption growth strong in 2012 — central bank

KUALA LUMPUR, Feb 20 — Malaysia’s private consumption rose 6.1 per cent in the fourth quarter from a year ago, supported by improved consumer sentiment and stable labour market conditions, the central bank said today.

Staff at a shopping mall manning a counter during a special sale day in Kuala Lumpur. — AFP picStaff at a shopping mall manning a counter during a special sale day in Kuala Lumpur. — AFP pic“The stronger growth in private consumption in the first half of the year reflected the effects of the various government transfers to households disbursed during the period,” the central bank said in a statement.

The central bank was referring to government handouts to families earning less than 3,000 ringgit per month.

Private sector investment rose 20.2 per cent in the last quarter of 2012 from a year ago with public sector investment up 11.1 per cent, the central bank said. — Reuters

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