Trump waives new Russia sanctions and tariffs before they take effect
The measures would have targeted officials, banks and shipping, as well as goods from some countries buying Russian energy.
Malaysia's economic growth slows to 5.3% in third quarter
Services led the expansion, while manufacturing grew 7.5% and mining and quarrying contracted, official advance estimates showed.
Malaysia recorded annual economic growth of 5.3% in the third quarter, down from 6% in the second quarter, according to official advance estimates published on October 16. The statistics department said services drove the expansion, with the sector growing 5.4%.
Manufacturing expanded 7.5%, helped by industries focused on exports, the department said. Construction grew 6%, partly reflecting increased data center development. Mining and quarrying was the only sector to contract during July-September, falling 4.9% compared with a year earlier.
Malaysia is a regional hub for data centers and has benefited from global spending on artificial intelligence infrastructure, which has increased demand for its technology products and semiconductors. The government raised its 2026 growth projection for a second time this year, saying expansion was expected near the top of its forecast range of 4.8% to 5.3%. It projects growth of 4.2% to 5.2% for 2027.
The central bank has kept its main policy rate unchanged since cutting it to 2.75% amid uncertainty over global tariffs. Final GDP figures for the third quarter are scheduled for publication on November 18.