MIDF retains Malaysia's 2023 GDP growth forecast at 4.2%

MIDF Research predicts the GDP growth will pick up to 4.7%in 2024.

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

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