Household spending to grow 5% y-o-y over 2025 to RM952.5bil - BMI

Quick Summary:

KUALA LUMPUR: BMI, a unit of Fitch Solutions, has forecast household spending to grow by 5 per cent year-on-year in 2025, in real terms, to a value of RM952.6 billion.

This is particularly true as debt servicing costs rise in response to increases in interest rates.

Explaining further, BMI said consumer confidence levels have largely been declining, reflecting a weakening consumer mindset as inflationary pressures in certain commodities such as food and fuel continue to weigh on low- and mid-income households.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaMali

Topics: BMI /Business/Business News Economy GDP

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 10:27:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 590 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23113414

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 47 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 35 minutes ago

Coverage Areas: Malaysia

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