Bank Negara Malaysia attributes performance to stronger household spending amid positive labour market conditions and larger policy support.
Read More: https://www.freemalaysiatoday.com/category/nation/2024/08/16/malaysias-gdp-grows-5-9-in-2q-2024/
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Read More: https://www.freemalaysiatoday.com/category/nation/2024/08/16/malaysias-gdp-grows-5-9-in-2q-2024/
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NewsTranscript
00:00Malaysia's economy grew 5.9 per cent in the second quarter of this year, slightly
00:07higher than the Statistics Department's advance estimate of 5.8 per cent.
00:13Bank Negara Malaysia attributed this growth to stronger household spending amid positive
00:18labour market conditions and larger policy support.
00:23The central bank said an uptick in exports, tourist arrivals and investment activities
00:29also contributed to the growth rate.
00:32BNM Governor Abdul Rashid Ghaffur said headline inflation is projected to average between
00:372 per cent and 3.5 per cent this year.
00:42He said household spending remains the anchor of Malaysia's growth, with consumer spending
00:47expected to improve going forward.
00:50The services sector, which accounts for more than half of Malaysia's economic output,
00:55exceeded 5.9 per cent.