KUALA LUMPUR: Malaysia’s economy grew 5.9% in the second quarter of this year (Q2 2024) thanks to stronger household spending amid positive labour market conditions and larger policy support.
Bank Negara Malaysia also attributed the strong growth rate to a pick-up in exports and tourist arrivals, as well as robust expansion in investment activities.
The figure is slightly above the statistics department’s advance estimate of 5.8% released earlier this week.
At a press conference here, BNM governor Abdul Rasheed Ghaffour said headline inflation is projected to average between 2% and 3.5% this year.
He said household spending remains the anchor of Malaysia’s growth, with consumer spending expected to improve going forward.
Read on in Thick as a Brick HERE
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