Slower manufacturing activity ahead

Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid

PETALING JAYA: The outlook for the manufacturing sector for the rest of the year is not so promising, which could be a dampener for the domestic economy already impacted from various fronts.

The slowing global economy, recessionary and inflationary risks and high interest rates are factors currently weighing on the local economy. Economists said to an extent, the outlook of the manufacturing sector would also hinge on the global demand conditions. They concurred that slower manufacturing activities would have an impact on economic growth.