Malaysian economy and BNM
Recession Malaysia to be a reality in 2023?
This is the definition for recession. A recession is a significant, pervasive, and persistent decline in economic activity. (Investopedia) Briefly, it meant that people spend less than last year. Imagine getting the same salary this year as last year. However, because of sentiment, you decided to spend less and save the money into the savings account instead. Now imagine another 100,000 people who has the same thoughts all doing the same. Suddenly, the number of people spending in malls are reduced.