FMM sees 2024 growth above 5%

FMM said Malaysia's economic growth will likely exceed the government’s 4% to 5% target range.

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has revised upwards the 2024 economic growth projection given the stronger-than-expected momentum in the second quarter (2Q24).

In a statement, FMM said the new forecast suggests that growth will likely exceed the government’s 4% to 5% target range with a revised 5.1% gross domestic product growth.

“Private investment and consumption spending have been revised upwards, reflecting the economy’s strong recovery trajectory. The economy is on a robust recovery path, driven by strong exports, private consumption and investments.” — Bernama