Research & Analysis

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

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

Summary Malaysia’s economy grew by 5.3% in 3Q2024, with manufacturing growth accelerating to 5.6% (1H2024: 3.3%). The positive investment cycle remains supported by a surge in capital imports. Exports rebounded in October after a minor decline in September. While external uncertainties have increased, particularly following the Republican sweep in the recent US election, Malaysia is

Summary   Following the 50-basis point US rate cut on September 18, subsequent releases of strong economic data and limited signs of easing inflation in the US have driven yields higher across all bond markets. This has prompted a reassessment of the US rate cut trajectory, where current market expectations indicate only one to two more

Summary Malaysia’s 3Q2024 gross domestic product (GDP) is set for stronger growth, driven by robust external demand and a continued recovery in tourism. In August, export growth remained solid at 12.1% (July: 12.3%), supported by increasing demand across the manufacturing subsectors. Meanwhile, the tourism sector, which has been steadily recovering, is expected to gain further

Summary Malaysia’s gross domestic product (GDP) expanded by 5.9% in 2Q2024, surpassing the advance estimate of 5.8% (1Q2024: 4.2%). The acceleration in household spending and sustained strong double-digit growth in gross fixed capital formation were key drivers. Exports surged by 12.3% in July (June: 1.7%), driven by a broad-based increase in manufacturing exports. In July,