6 percent growth 2Q 2024 is very positive!
If anyone were to say that there is a possibility that Malaysia’s second quarter GDP growrth for 2024 will be 6 percent last year, everyone would be rolling their eyes and said, no way! Well, now it’s considered a possibility of what could be announced yeah. Our own Statistics Department estimated it to be 5.8 percent but the rest are all higher…
Article in thestar.com.my Malaysia’s economic growth is likely to exceed 6% for the second quarter of this year (2Q24), surpassing the government’s initial estimate, according to several research houses.
Hong Leong Investment Bank (HLIB) Research put its 2Q24 gross domestic product (GDP) growth forecast at 6.1%, while Maybank Investment Bank (MaybankIB) Research’s projection stands at 6.8%.
In its report, HLIB Research said 2Q24 GDP growth was expected to accelerate to 6.1% on the back of stronger growth across most sectors, particularly the services sector.
Meanwhile, Maybank IB Research cited stronger 2Q24 indicators on output and key economic activities, as the basis for its 6.8% GDP growth estimate for the quarter in review.
“Our 2Q24 GDP growth estimate is based on projections of faster growth compared with the advanced estimate for services and manufacturing, despite lower projections (compared with advanced estimate) for construction, agriculture and mining,” the research house said. Do read the full report here: Article in thestar.com.my
Higher GDP growth means more investments are possible
Higher projections come from services and manufacturing. Malaysia is a factory for the world! Let’s keep attracting all the new companies thinking of the best place to establish a strong foothold to serve the world, whether east or west. Plus the fact that our talents can speak many languages versus the need to just rely on trying to hire from a small group of English speakers in many other competing countries.
The salaries in these countries for these niche English speaking talents with the right skills are already very high yeah. So, do come Malaysia and help drive our GDP growth even higher. We are ready! Or at least I am ready to write more on this too!
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