Malaysia economy grows 5.4% in 2Q

Malaysia's central bank says the country's economy expanded 5.4 percent in the quarter through June, as robust domestic demand and strong government spending cushioned the impact of global economic turbulence. Bank Negara Malaysia says Wednesday that the global economy faces increasing risks from Europe's debt crisis and the U.S. budget deficit. However, it said that strong support provided by domestic demand as well as private and public spending will sustain Malaysia's economy, according to a report of the Associated Press. It revised first quarter growth to 4.9 percent from 4.7 percent.