{"id":58476,"date":"2023-09-12T16:17:14","date_gmt":"2023-09-12T08:17:14","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=58476"},"modified":"2023-09-12T16:17:14","modified_gmt":"2023-09-12T08:17:14","slug":"malaysia-economic-growth-weak-until-2024","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024","title":{"rendered":"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024"},"content":{"rendered":"

RAM Ratings Services Bhd (RAM Ratings) said that Malaysia\u2019s economic growth will stay weak in 2023 in a recently released report<\/a>.<\/p>\n

Factors such as soft global demand and other headwinds will continue to challenge the economic momentum in the second half of 2023 (H2 2023) with gross domestic product (GDP) projected to decelerate to 4% – 5% from 8.7% the previous year.<\/p>\n

The credit rating agency noted that GDP growth has slowed down to 4.2% year-on-year (y-o-y) in the first half of 2023 (H1 2023) from 10.4% in H2 2022 due to a slowed global trade and a semiconductor downcycle bit into exports.<\/p>\n

In H1 2023, the volume of exports has also declined by 6.4% y-o-y and is attributed largely to a high base effect.<\/p>\n

\u201cDomestic demand, the key driver of economic growth, was also softer at 4.5% in 1H 2023 compared to 9.9% in the second half of last year, as spending behaviour normalised.\u201d the ratings agency said in a statement.<\/p>\n

There are, however, bright spots on the horizon as RAM Ratings expects the economy to eke out growth of 4.5% to 5.5% in 2024.<\/p>\n

\u201cThe labour market continues to stay robust, powering domestic demand. Recent data also indicates tentative signs of the current electrical and electronic (E&E) downturn bottoming out, potentially lifting exports next year.\u201d The report states.<\/p>\n

A resolution to the labour shortage issues could act as an additional impetus for growth in sectors such as agriculture and construction. Additionally, a soft landing for the US economy could lead to a less severe global slowdown.<\/p>\n

Read more: Spending For 12MP To Be Raised By RM15 Billion, GST Might Be Re-Introduced<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Soft global demand and other headwinds will challenge economic momentum according to RAM.<\/p>\n","protected":false},"author":47,"featured_media":58478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,216],"tags":[1442,323,1236,1443,1107],"class_list":["post-58476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news-updates","tag-economic-growth","tag-economy","tag-gdp","tag-gross-domestic-product","tag-malaysia"],"acf":[],"yoast_head":"\nMalaysia Economic Growth Momentum Weak Until 2024<\/title>\n<meta name=\"description\" content=\"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024\" \/>\n<meta property=\"og:description\" content=\"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-12T08:17:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Azreen Azmi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azreen Azmi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024\"},\"author\":{\"name\":\"Azreen Azmi\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/8c957dfb12fe1ffcc0e443b7cc382349\"},\"headline\":\"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024\",\"datePublished\":\"2023-09-12T08:17:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024\"},\"wordCount\":266,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/12154821\\\/ramratingsweakeconomy.jpg\",\"keywords\":[\"economic growth\",\"Economy\",\"GDP\",\"gross domestic product\",\"Malaysia\"],\"articleSection\":[\"Economy\",\"News Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024\",\"name\":\"Malaysia Economic Growth Momentum Weak Until 2024\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/12154821\\\/ramratingsweakeconomy.jpg\",\"datePublished\":\"2023-09-12T08:17:14+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/8c957dfb12fe1ffcc0e443b7cc382349\"},\"description\":\"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#primaryimage\",\"url\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/12154821\\\/ramratingsweakeconomy.jpg\",\"contentUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/12154821\\\/ramratingsweakeconomy.jpg\",\"width\":1200,\"height\":610},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/malaysia-economic-growth-weak-until-2024#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/category\\\/economy\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/8c957dfb12fe1ffcc0e443b7cc382349\",\"name\":\"Azreen Azmi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g\",\"caption\":\"Azreen Azmi\"},\"description\":\"Azreen Azmi is a writer with a penchant for writing about content marketing and technology. From YouTube to Twitch, he tries to keep in touch with the latest in content creation and finding out the best way to market your brand.\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/author\\\/azreen-azmi\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Malaysia Economic Growth Momentum Weak Until 2024","description":"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024","og_locale":"en_US","og_type":"article","og_title":"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024","og_description":"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.","og_url":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024","og_site_name":"iMoney Malaysia","article_published_time":"2023-09-12T08:17:14+00:00","og_image":[{"width":1200,"height":610,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg","type":"image\/jpeg"}],"author":"Azreen Azmi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Azreen Azmi","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#article","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024"},"author":{"name":"Azreen Azmi","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349"},"headline":"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024","datePublished":"2023-09-12T08:17:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024"},"wordCount":266,"commentCount":0,"image":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg","keywords":["economic growth","Economy","GDP","gross domestic product","Malaysia"],"articleSection":["Economy","News Updates"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024","url":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024","name":"Malaysia Economic Growth Momentum Weak Until 2024","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg","datePublished":"2023-09-12T08:17:14+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349"},"description":"A report by RAM Ratings indicates that Malaysia\u2019s economic growth momentum will stay weak in the second half of 2023.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#primaryimage","url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg","contentUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2023\/09\/12154821\/ramratingsweakeconomy.jpg","width":1200,"height":610},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/malaysia-economic-growth-weak-until-2024#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/www.imoney.my\/articles\/category\/economy"},{"@type":"ListItem","position":3,"name":"Malaysia\u2019s Economic Growth Momentum To Stay Weak Until 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/8c957dfb12fe1ffcc0e443b7cc382349","name":"Azreen Azmi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/91059f5b3d015965253e14a33b1f6a745f5155f822ae4b704abc9b1221a9765c?s=96&d=mm&r=g","caption":"Azreen Azmi"},"description":"Azreen Azmi is a writer with a penchant for writing about content marketing and technology. From YouTube to Twitch, he tries to keep in touch with the latest in content creation and finding out the best way to market your brand.","url":"https:\/\/www.imoney.my\/articles\/author\/azreen-azmi"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=58476"}],"version-history":[{"count":3,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58476\/revisions"}],"predecessor-version":[{"id":58486,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/58476\/revisions\/58486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/58478"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=58476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=58476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=58476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}