KUALA LUMPUR, Nov 15-  The country's economy expanded by 5.3 percent in the third quarter of 2024, driven by strong investment activities and continued improvement in exports.

According to a statement, Bank Negara Malaysia (BNM) said investment activity was underpinned by strong spending on structures and machinery and equipment, while household spending sustained its expansion amid positive labour market conditions and policy support.

Exports continued to strengthen on the back of recovering external demand and positive spillovers from the global tech upcycle.

Meanwhile, imports also grew at a faster pace following strong demand for capital and intermediate goods to support rising investments and trade.

Overall, the average growth for the first three quarters of 2024 came to an average of 5.2 percent.