Thursday, August 27, 2009

Breaking News-RTRS--Malaysia Q2 GDP shrinks less than f'cast

KUALA LUMPUR, Aug 26 (Reuters) - Malaysia's economy contracted by 3.9 percent in the second quarter from a year ago, less than expected, and pace of decline slowed from a 6.2 percent drop in the first quarter, signalling the start of a slow recovery for this export-dependent country.
Central bank Governor Zeti Akhtar Aziz told a press conference that the budget, due in October, would see a revision to government forecasts that the economy would shrink 4-5 percent for the full year and that the drop would be less than that.