Resilient consumer spending likely to spur growth

Maybank IB Research projected Malaysia’s gross domestic product growth to accelerate to 4.4% for 2024 from the estimated 3.9% for 2023.

PETALING JAYA: Malaysia’s economic growth is expected to be stronger this year, driven by resilient consumer spending and sustained private and infrastructure investment momentum.

This momentum will also be supported by the expected recoveries in trade-related services and manufacturing industries, namely tourism and electronics, according to Maybank Investment Bank (Maybank IB) Research.