MIDF Keeps 2023 Malaysia GDP forecast at 4.2% as LI signals better growth momentum

KUALA LUMPUR: MIDF Amanah Investment Bank Bhd (MIDF Research) has reiterated its forecast that Malaysia’s gross domestic product (GDP) will grow 4.2 per cent in 2023 before picking up to 4.7 per cent next year following the narrower contraction in the leading index (LI) recorded in August 2023.

Data released by the Department of Statistics Malaysia (DOSM) yesterday showed the contraction of the LI, a tool utilised for predicting economic trends four to six months ahead, narrowed by 0.5 per cent to 109.7 points in August 2023 from a decline of 1 per cent (108.9 points) in July 2023.