Businesses, consumers turn more cautious

The Malaysian Institute of Economic Research said its Business Conditions Index, which has been on a general downtrend since the fourth quarter of 2021, dropped further to 79.7 points in 3Q23.

PETALING JAYA: Malaysian business confidence slumped to the lowest level since the Covid-19 pandemic, as the impact of falling export orders outweighed the slight rebound in domestic orders.

Consumers have also turned more pessimistic, with more people tightening their belts amid deterioration in personal finances and a less hopeful view on future job opportunities.