Malaysia exits slump

       Government spending helped lift Malaysia out of recession in the second quarter amid signs of stabilisation in the world economy.
       Gross domestic product expanded by 4.8% from the first quarter following contractions in the previous two quarters - the technical definition of a recession - the central bank said yesterday.
       The economy, battered by the downturn in global trade, was kick-started by government pump priming that included new spending of 67 billion ringgit ($19 billion). Higher private consumption contributed to the improvement as well,Bank Negara Malaysia said.
       Other heavily export-dependent Asian economies including Japan, Singapore and Thailand also broke out of recession in the latest quarter after getting a lift from government stimulus.
       "There are increasing signs that conditions in the global economy are stabilising," said Bank Negara Governor Zeti Akhtar Aziz.
       Ms Zeti said the government's forecast for the economy to shrink by 4% to 5%this year would be upgraded when the 2010 budget is tabled in October.