New: Malaysia’s Economic Growth Accelerated. GDP 4.2%

Malaysia’s economic growth in the third quarter of 2023 accelerated to 3.3% year-on-year, up from the previous quarter’s 2.9%, according to advance estimates. However, this growth remains below the desired +4% trend. Inflation has eased, with a 1.9% rate in September 2023, which should support the spending outlook.

Economic Growth

Nevertheless, core inflation remains at +2.5% year-on-year, indicating persistent demand pressures on prices. The GDP forecast for 2023 is maintained at +4.2%, with expectations of a 4.7% growth in 2024, driven by increased external demand and domestic economic activities.

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SOURCE: MIDF