Q4 2022 Real Estate Times Malaysia

Cautious optimism amid global uncertainty

Key Highlights:

  • 3Q22 saw 14.2% y-o-y growth in GDP driven by robust domestic spending and export demand and higher capital expenditure. Malaysian economy expanded by 9.3% in 1st three quarters of 2022.
  • Private final consumption up 15.1% supported by Transport, Restaurants & hotels, and Recreation services & culture.
  • Services sector grew stronger at 16.7% driven by Wholesale & retail trade sub-sector (+24.4%) and better performance across all other subsectors.
  • Manufacturing sector expanded by 13.2% propelled by Electrical and Electronics (E&E) cluster with double-digit growth of 17.3%.
  • Construction sector recorded double-digit growth of 15.3% due to resumption of activities and improvement in labor market.
  • Commodities-related sectors rebounded positively with Mining and Agriculture growth of 9.2% and 1.2%, respectively.
  • Unemployment rate improved to 3.7% and headline inflation rose to 4.5% driven by continued improvement in demand.
  • Business Conditions Index (BCI) and Consumer Sentiment Index (CSI) improved but remained below the optimism level of 100.

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