Malaysia beats forecasts with GDP up 4.9% on-year in Q2

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Malaysia's economy grew 4.9 percent in the second quarter from a year earlier, slightly above expectations despite weak commodity prices and domestic demand in the period.

The growth pace is the slowest since the third quarter of 2013, when the economy also expanded 4.9 percent on an annual basis.

In the first quarter, Malaysia's economy grew 5.6 percent from a year earlier.

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The country's current account surplus narrowed to 7.6 billion ringgit ($1.90 billion) in the second quarter from 10 billion ringgit in the first quarter of 2015.

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Economists polled by Reuters expected annual gross domestic product (GDP) growth to slow to 4.5 percent in the second quarter as domestic consumption cooled and manufacturing exports weakened.