More cautious spending trend forecast for consumer sector

Electronic billboards showing the 2024 new year celebrations near Jalan Bukit Bintang in Kuala Lumpur. — SHAARI CHEMAT/The Star

PETALING JAYA: Price-sensitive consumers are anticipated to be more cautious in their discretionary spending this year, mainly due to the global economic slowdown.

MIDF Research in a report said consumer spending will also be impacted by potentially higher inflationary pressure due to fiscal measures.