Research & Analysis

Summary Malaysia’s economy is expected to grow by 4.4% in 1Q2025, although moderating from 5.0% in the previous quarter. The growth in the first quarter was attributable to resilient domestic demand and construction activity that offset weaker performance in mining and manufacturing. The ringgit rebounded in April after initially weakening on tariff-related fears, supported by …

Tariff tensions drive flight to safety, fuelling bond inflows – April 2025 – Summary Read More »

Summary The ringgit remained stable in March, supported by the Federal Reserve’s (Fed) dovish stance and expectations of narrowing interest rate differentials. The ringgit has traded within the 4.42–4.48 range since January, bolstered by Malaysia’s resilient economic fundamentals and investor confidence. Exports surged to 6.2% in February (Jan: 0.3%), driven by manufacturing growth of 8.8% …

Signs of more dovish monetary policy – March 2025 – Summary Read More »

Summary Malaysia’s 4Q2024 gross domestic product (GDP) exceeded the advance estimate, bringing the full year growth to 5.1%. The growth is within the official projection and MARC Ratings’ forecast. The sustained expansion of the services sector underscores the resilience of private consumption, which remained a key growth driver, alongside strong external demand. Demand for electrical …

Malaysia prints strong 2024 GDP growth amid global trade war – February 2025 – Summary Read More »

Summary Malaysia’s 2024 gross domestic product (GDP) advance estimate read 5.1%, within the official projection and MARC Ratings’ forecast. Overall business activity was healthy, particularly with a sharp rise in exports in December of 16.9%, while consumer spending and the services sector remained robust,. Strong overall exports, despite the decline in exports to China, reflected …

Malaysia sustains growth amid hawkish US policy – January 2025 – Summary Read More »

Summary Malaysia’s 4Q2024 economy started on a strong note, with October’s Industrial Production Index (IPI) expanding by 2.1% (Sep: 2.3%), driven by a 3.3% growth in the manufacturing sector. Private consumption remained robust, as indicated by a year-to-date (YTD) increase in passenger vehicle sales, supporting an overall growth forecast of 5.1% for 2024. Following Trump’s …

Bearish bonds amid hawkish Fed stance – December 2024 – Summary Read More »