Malaysia‘s economy has experienced faster than anticipated growth in the first quarter, bolstered by solid domestic demand, causing the central bank to downplay the potential impact of a global slowdown on the country, which is reliant on exports. Gross domestic product increased by 5.6%, according to data from the central bank and the government, exceeding analysts’ forecasts of a 4.8% annual rise predicted in a Reuters poll. This marks a decrease from the growth of 7.1% recorded in the final quarter of 2022, which surpassed the previously announced 7.0% growth.
In comparison to the previous quarter’s 1.7% decline, seasonally adjusted growth saw a resurgence, reaching 0.9%. Improved labour market conditions, the ongoing progress of large infrastructure projects, and a boost in tourism are among the factors that have contributed to the increase in…
