Economy to grow 5.3% in 3Q24 on manufacturing

The Statistics Department is slated to release the official 3Q24 GDP data this Friday, with growth anticipated to be 5.3%.

PETALING JAYA: Kenanga Research has maintained its third-quarter 2024 (3Q24) gross domestic product (GDP) growth forecast at 5.3%, with full-year growth expected to settle at 5%.

While key macro indicators suggested moderate expansion amid a slowdown in mining and domestic demand, the research houses noted that the economy remained supported by the manufacturing sector and an unexpected boost from the construction sector.