NEW YORK (Reuters) - Tunisian Ons Jabeur has pulled out of the U.S. Open, tournament organisers said on Thursday, the latest disappointment for the 2022 finalist in an injury-riddled season.
With the economy already locked in an average growth of 5.1% in 1H24, we revise 2024’s full-year GDP growth estimate to 5.4% from 4.5% previously.The second quarter of 2024 gross domestic product growth of 5.9% year-on-year indicates optimism for the economy, supported by resilient consumer spending, sustained high business investments, and improved exports.
We expect the government to up its 2024’s GDP growth estimate to between 5% and 5.5% from 4% and 5% currently, as well as introduce 5% and 6% for 2025 when tabling the 2025 Budget on Oct 18.Consumer spending continues to chalk up higher growth of 6.0% in 2Q , due to the Aidilfitri celebration spending, targeting regular payment of cash assistance, and the withdrawals of RM9.6bil from the Employees Provident Fund Flexible Account 3 by 3.6 million or 27.5% of total 13.
Capital spending by the private sector in the form of machinery and equipment, structure and other assets continued to expand further by 12% in 2Q , reflecting investors and businesses’ optimism on growth and investment prospects ahead. We strongly believe that private investment remains firmly on an upturn estimated between 10.0% and 13.5% in 2024-2026, underpinned by:
Exports, which expanded by 5.1% y-o-y in the first seven months of 2024, should remain firmly on positive track in 2024 . Underpinning exports are higher external demand, global tech upcycle and firmer commodity and energy prices. >The final approvals of other mega projects such as Mass Rapid Transit 3, the Kuala Lumpur-Singapore High Speed Rail, and Bandar Malaysia, probably in 4Q24 and 1H25.
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