KUALA LUMPUR:Official figures released on Friday revealed that the Malaysian economy gained 3.6 percent year on year in the fourth quarter of 2021, as economic activity restarted following the lifting of containment measures.

The increase in economic activity was helped by continuing policy assistance as well as a revival in the labour market, according to the Malaysian central bank. Furthermore,  robust external demand amid the global technology upcycle provided an additional boost to growth.

On the supply side, all economic sectors grew, with the services and manufacturing industries leading the way. The improvement in household spending and trade activity were the key drivers of expenditure growth.

Malaysia's economy grew by 6.6 percent quarter over quarter, seasonally adjusted.The economy grew by 3.1 percent in 2021 as a whole, thanks to a rebound in growth in the fourth quarter. Given strengthening labour market conditions and continuous policy support, the central bank expects the domestic economy to remain on its recovery path in 2022. This will be aided by continued expansion in global demand and greater private sector expenditure.

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