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Malaysia's business confidence soars to 3.2% in Q4 2023

Malaysia's business confidence indicator has risen to 3.2% in Q4 2023, up from 0.7% in the previous quarter, signalling stronger business expectations. Chief Statistician Datuk Seri Dr. Mohd Uzir Mahidin reports optimism in the services, industry, and construction sectors. The services sector's confidence has increased to 6.3%, and the industry sector to 4.0%, marking a positive shift. Notably, the construction sector shows a positive turn for the first time since Q1 2018, posting a 1.7% confidence level. However, the wholesale and retail trade sector anticipates a downturn, with a −3.6% confidence indicator. Looking ahead to October 2023-March 2024, overall business outlook remains positive, with a net balance of 9.8%, despite a slight moderation. The services sector remains upbeat, with all sub-sectors expecting positive conditions.


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