BMI forecasts positive consumer spending growth in Malaysia

THE night is dark, with only the stars twinkling above as the waters off Terengganu come alive with anticipation for the annual squid jigging or candat sotong season.

KUALA LUMPUR: BMI , a Fitch Solutions company, has maintained a positive outlook for consumer spending in Malaysia for 2024 and 2025, citing ongoing economic recovery supporting stable real consumer spending growth throughout the year.

"We hold a cautious but positive outlook for consumer spending in Malaysia over 2024, as the economic recovery feeds through to strong real consumer spending growth over the full year. BMI highlighted that spending will face constraints from high debt levels and associated servicing costs. The firm has forecasted year-on-year growth in consumer spending in Malaysia for 2024, aligning with its country risk team's projection of a 4.4 per cent real economic growth rate for the year.

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BMI Consumer Inflation Fitch Solutions

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