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AmBank said despite a slight decline in the Industrial Production Index (IPI) in September, Malaysia’s gross domestic product (GDP) is expected to grow by 4.0% this year and to 4.5% in 2024.
Manufacturing production remains under pressure in the short term, affected by the Manufacturing Purchasing Managers’ Index (PMI), which continues to fluctuate in the contraction zone. The situation is expected to improve in 2024, and the World Trade Organization expects global exports to rebound. However, geopolitical risks, high interest rates and uncertainty in the Chinese real estate market are potential risk factors.
The decline in IPI in September was mainly affected by the downturn in the mining industry, while manufacturing increased slightly in September after three months of decline.
(Source: Bernama Image source: freepik)
