Malaysia on track to post Q1 GDP growth of 5.6%

Private consumption would remain the mainstay of the demand growth in the quarter, said BIMB's Firdaos.

KUALA LUMPUR: Malaysia’s gross domestic product (GDP) growth for the first quarter of 2023 (1Q23) is expected to record 5.6% versus 5% in last year’s corresponding quarter, says Bank Islam Malaysia Bhd (BIMB).

Such compelling growth in 1Q23 is bolstered by strong domestic demand coupled with moderating inflation amid facing external headwinds, the bank said in a research note yesterday.