BMI forecasts robust consumer spending for 2024-2025 as Malaysian economy rebounds

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KUALA LUMPUR, July 16 — BMI, a Fitch Solutions company, has maintained a positive outlook for consumer spending in Malay...

Meanwhile, it cautioned that high household debt levels in a rising interest rate environment pose a significant risk to the 2024 outlook.“This will require consumers to allocate more of their budgets to debt repayments, which will constrain their ability to spend on other goods and services,” it added.

BMI highlighted that spending will face constraints from high debt levels and associated servicing costs.“However, easing inflation and a tight labour market will support spending, as real wage growth returns to positive territory, supporting purchasing power over the year,” it said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaMali

Topics: Household spending Malaysia economy Bmi Consumer spending

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 12:48:56 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 239 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 21647383

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