Malaysia records 4.2% GDP growth for Q1 2024

Free Malaysia Today

Headline inflation for the period remained moderate at 1.7%.   Read More:  https://www.freemalaysiatoday.com/category/highlight/2024/05/17/malaysia-records-4-2-gdp-growth-for-q1-2024/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #GPD #Malaysia

Transcript

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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