BMI Research forecasts Malaysian consumer spending to grow by 5 per cent in 2025, but high household debt may limit this increase. A stronger ringgit at RM3.80 to the dollar is...
BMI Research: Malaysians’ spending may return to pre-Covid levels in 2025 as ringgit rises to RM3.80 per dollar, but debt could hamper growth
The report also highlighted stable inflation and low unemployment as factors supporting positive spending outlook. “Malaysia remains heavily reliant on imports to meet local demand and the strengthening of the exchange rate will mean that Malaysian consumers will benefit from cheaper imports. Despite the lower confidence, retail sales in Malaysia remained stable, growing by 5.9 per cent year-on-year in August 2024, although this marks the fourth consecutive month of slowing sales.
Spending Outlook BMI Research Ringgit Exchange Rate
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