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KUALA LUMPUR: Malaysia's economy grew 5% in the fourth quarter of 2024 , slightly above market expectations and the official advance estimate of 4.8%.
On the flip side, there was a construction in the commodities sector due to lower oil palm output as well as the continued decline in oil production.Over the entire year, Malaysia's economy grew 5.1%"On the domestic front, growth was mainly driven by stronger household spending reflecting favourable labour market conditions, policy measures to support households and healthy household balance sheets," said Bank Negara.
He added that investment activities on the domestic front will be driven by the favourable progress of multi-year projects in both the private and public sectors and further lifted by the realisation of approved investments. The growth outlook remains subject to downside risks. Such risks include an economic slowdown in major trading partners amid the heightening risk of trade and investment restrictions and lower-than-expected commodity production.
Bank Negara GDP Consumer Spending Inflation Manufacturing Export Construction
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