KUALA LUMPUR: Malaysia’s domestic growth is likely to continue, supported by resilient demand on the local front amid steady labour market conditions ...
Further improvement in the services sector will be backed by a gradual increase in tourism activities. – BernamapicMalaysia’s domestic growth is likely to continue, supported by resilient demand on the local front amid steady labour market conditions and further improvement in the services sector.
This was also in line with the slower-than-expected GDP growth performance in the second quarter of 2023 at 2.9% against 5.6% in the first quarter. Malaysia’s manufacturing PMI remained unchanged in August at 47.8 from July, reflecting a subdued demand in the third quarter. The index has remained in contraction level for the twelfth consecutive month or since September 2022.
Its projections indicate that the manufacturing sector as a whole would experience a further moderation of only 2.0% for this year .
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