Domestic demand fuels 5% growth in 4Q24

Bank Negara said that growth in the domestic front was attributed to stronger household spending, healthy labour market conditions and policy measures supporting households.

PETALING JAYA: Real gross domestic product (GDP) expanded by 5% in the fourth quarter of 2024 (4Q24), driven mainly by domestic demand.

This took the country’s full-year growth to 5.1%, compared with the 3.6% expansion in 2023, on the back of continued robust domestic demand and exports.