00:00 Malaysia has achieved a gross domestic product growth of 4.2% for the first quarter of 2024.
00:09 In a statement, Bank Negara Malaysia said the 4.2% growth rate was driven by stronger
00:14 private expenditure and the positive turnaround in exports.
00:18 In 2023, Malaysia's GDP grew by 2.9% in the fourth quarter and 5.6% in the first quarter.
00:24 In a joint press conference with BNM, Chief Statistician Uzir Mahidin said household spending
00:29 rose in Q1 2024 due to continued growth in employment and wages.
00:34 He also said better investment activities were supported by higher capital spending
00:38 from both private and public sectors.
00:41 Meanwhile, headline inflation for Q1 2024 remained moderate at 1.7% in comparison with
00:47 1.6% in Q4 2023.
00:50 This mainly reflects the effects of adjustments to administrative prices.
00:55 Particularly, this included the higher water tariffs and service tax on electricity bills
01:01 for high consumption users.
01:03 Core inflation, on the other hand, dropped to 1.8% from 2% in Q4 2023, largely driven
01:10 by continued easing in the food and beverages segment.
01:14 Sam Witra, FMT News.
01:15 [MUSIC PLAYING]
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