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With the recent cooling of the U.S. labor market and a decline in inflation, expectations for a Federal Reserve rate cut in September are rising. This anticipation has softened the dollar and pushed down U.S. Treasury yields, prompting investors to shift their focus to alternative markets in search of higher returns. According to the latest investment strategy report from Nomura Securities, the onset of the Fe...
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In the second quarter of 2024, Malaysia's gross domestic product (GDP) increased by 5.9% year-on-year, the strongest growth rate since the end of 2022, and the full-year growth is expected to be close to 5%.
Datuk Abdul Rahman, the Governor of the Central Bank of Malaysia, pointed out at a press conference today that the second quarter's economic growth accelerated, thanks to a good labor market and increased policy support, which led to a rise in household spending and improved exports.
In the case of strengthening growth momentum, the Central Bank still maintains its original forecast of 4% to 5% full-year growth, but Abdul Rahman said that the final growth rate should be close to 5%.
Under the support of stable domestic demand, strong investment activities, and improved export performance, we believe that Malaysia's GDP growth rate this year will fall within the high end of the 4% to 5% range.
He added that various indicators show that the country's economic growth prospects can continue into the second half of the year, such as further recovery of global orders driving export performance, issuance of more projects, improvement in business confidence, etc.
As for whether to consider adjusting the growth forecast, Abdullahi said that this would depend on the announcement of the latest fiscal budget.
In any case, domestic concerns still remain alert to potential downside risks to growth, including peripheral demand lower than expected, escalation of geopolitical conflicts, and lower-than-expected production of domestic bulk commodities.
In the second quarter, private consumption rose 6% year-on-year, higher than the first quarter's 4.7%; private investment also rose 12% year-on-year, with a growth rate of only 9.2% in the first quarter.
Net exports turned from an increase to a decline in the second quarter, from the first...
Datuk Abdul Rahman, the Governor of the Central Bank of Malaysia, pointed out at a press conference today that the second quarter's economic growth accelerated, thanks to a good labor market and increased policy support, which led to a rise in household spending and improved exports.
In the case of strengthening growth momentum, the Central Bank still maintains its original forecast of 4% to 5% full-year growth, but Abdul Rahman said that the final growth rate should be close to 5%.
Under the support of stable domestic demand, strong investment activities, and improved export performance, we believe that Malaysia's GDP growth rate this year will fall within the high end of the 4% to 5% range.
He added that various indicators show that the country's economic growth prospects can continue into the second half of the year, such as further recovery of global orders driving export performance, issuance of more projects, improvement in business confidence, etc.
As for whether to consider adjusting the growth forecast, Abdullahi said that this would depend on the announcement of the latest fiscal budget.
In any case, domestic concerns still remain alert to potential downside risks to growth, including peripheral demand lower than expected, escalation of geopolitical conflicts, and lower-than-expected production of domestic bulk commodities.
In the second quarter, private consumption rose 6% year-on-year, higher than the first quarter's 4.7%; private investment also rose 12% year-on-year, with a growth rate of only 9.2% in the first quarter.
Net exports turned from an increase to a decline in the second quarter, from the first...
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In July 2024, the US annual inflation rate continued its downward trend for the fourth month in a row, reaching 2.9% — a level not seen since March 2021 and a slight decrease from June's 3%. Month-over-month, the CPI saw a 0.2% increase, aligning with predictions. This rise was primarily driven by the shelter index, which went up by 0.4% and contributed to nearly 90% of the overall monthly increase in inflation.
Core inflation, which excludes vo...
Core inflation, which excludes vo...
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