BENGALURU : Malaysia's economy likely grew at its fastest pace in 18 months in the second quarter of 2024, thanks to a strong rebound in exports and higher household consumption, according to a Reuters poll of economists.The Aug.
BENGALURU : Malaysia's economy likely grew at its fastest pace in 18 months in the second quarter of 2024, thanks to a strong rebound in exports and higher household consumption, according to a Reuters poll of economists.
That would mark the fastest growth since Q4 2022, with forecasts for the data due on Aug. 16 ranging from 5.0 per cent to 6.8 per cent. Exports rose 9.1 per cent in April and 7.3 per cent in May, respectively, before moderating to 1.7 per cent in June on a year-on-year basis. Government data showed exports grew 3.9 per cent in the first half of 2024.
"We continue to hold an optimistic view on Malaysia's cyclical growth outlook, and will watch for investment trends, given increased investors' interest especially on the foreign direct investment front," wrote Chua Han Teng, economist at DBS.
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