MIDF Research is anticipating an improvement in the electrical and electronics exports, coupled with growing external demand from major markets like China and the US.
OCBC Global Markets Research is expecting more visible support for Malaysia’s GDP growth from private sector consumption and investment spending.
In a statement, the research house said it anticipates an improvement in electrical and electronics exports, coupled with growing external demand from major markets like China and the US. Nevertheless, MIDF remained cautious that external developments like slower growth in China, possible recession risks in the US, and disruption to global trade from intensified geopolitical tensions could be the downside risks to Malaysia’s growth prospects in 2024.
Meanwhile, in a separate note, OCBC Global Markets Research projected that Malaysia’s GDP would register a 4.2% growth this year on the back of a cautiously optimistic outlook.
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