Consumer spending to help offset tariff impacts

Kenanga Research has lowered its GDP growth forecast for this year to 4.3%, from 4.8%, due to global trade risks and the slower-than-expected 1Q25 growth.

PETALING JAYA: The real gross domestic product (GDP) growth of 4.4% in the first quarter of this year (1Q25) suggests the Malaysian economy is starting to show early signs of scarring from the ongoing tariff war.

Bloomberg’s consensus forecasts had projected 4.5% growth for the period.