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Economists predict Malaysia's Q1 GDP growth to hover around 4.8%


Malaysia's GDP growth is expected to hover around 4.8% in the first quarter of 2023, according to regional economists ahead of the Bank Negara's official release of 1Q23 GDP figures. This growth rate follows a bumper 2022 where GDP expansion hit 14.2% between July and September before moderating to 7% in the final quarter. A slowdown in GDP growth began in 4Q22 with the tapering off of domestic consumption, leading to predictions of GDP growth just under 5% for 1Q23, weighed down by declining exports and tepid consumption, according to a Reuters poll. Eve Barre, economist of Singapore-based Coface Services South Asia-Pacific Pte, said the industrial growth rate of 2.8% in 1Q23 is the slowest recorded since 3Q21.

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