Malaysia's gross domestic product is expected to expand at a slower pace of 4% this year due to a moderation in global economic growth, lower private consumption, and high inflation environment. According to Maybank Investment Bank (Maybank IB), the country's moderate growth is corroborated by high-frequency indicators like the manufacturing PMI for Malaysia, which has dropped since Q4 of 2022. Maybank IB, however, said there is mitigation to the downside risk to growth and preventing the economy from dipping into recession. This includes the central bank's monetary stance that has shifted from accommodative to neutral and not restrictive.
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