KUALA LUMPUR: Malaysia’s economy grew 7% in the fourth quarter of 2022, slightly under half the double-digit growth of 14.2% in the previous quarter, amid the waning impact of stimulus measures and the low-base effect. Bank Negara said private sector activity remained the key driver of growth, supported by private consumption and investment. “The continued […]
Read MorePETALING JAYA: The majority of Malaysians may earn more than the minimum wage, but they still do not earn a “living wage” that would allow them and their families to enjoy a comfortable life, said Universiti Tun Abdul Razak economist Dr Barjoyai Bardai. He said 50% of Malaysians earn about RM2,000 monthly, which does not reflect […]
Read MoreKUALA LUMPUR: Malaysia’s gross domestic product (GDP) is projected to hit 8.4% in 2022 compared with 3.1% in 2021, marking the highest growth among Asean countries, according to Bank Islam Malaysia Bhd. The GDP growth for the fourth quarter of 2022 is expected to reach 5.7%. Bank Islam chief economist Firdaos Rosli said this would […]
Read MoreKUALA LUMPUR: Malaysia’s labour market recovery continued as the unemployment rate was maintained at 3.6% in December 2022, according to MIDF Research. It said the unemployment rate for people aged 15 to 24 descended to a new pandemic low of 11.8% but remained higher than the pre-pandemic level of 10.4% in 2019. It said labour […]
Read MoreKUALA LUMPUR: Malaysia needs to look at balancing its regional economic development in order to narrow the development gap in the country. Speaking at the launch of the World Bank’s Malaysia Economic Monitor February 2023 report, Ndiame Diop, the country director for Brunei, Malaysia, Philippines, and Thailand, said Malaysia’s regional economic development is not aligned. […]
Read MorePETALING JAYA: After two years of relatively robust growth, Malaysia’s industrial output (comprising manufacturing, electricity and mining production) is expected to enter a subdued phase in 2023 amid slower global demand and still-high inflation. According to economists’ projections, the industrial production index (IPI) growth could slow to around 3.5% and 3.7% this year from 6.9% […]
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