Malaysia's gross domestic product (GDP) growth rate has slowed to 3% in the fourth quarter of 2023, according to data released on 16 February 2024. This indicates a slight decline from the previous quarter's growth rate of 3.3%.
The year-on-year comparison shows that Malaysia's economy has experienced a slowdown in growth compared to the same period a year ago. The previous indicator in the third quarter of 2023 recorded a growth rate of 3.3%, making the current figure of 3% indicative of a deceleration in economic expansion.
While the exact factors contributing to this slowdown were not disclosed in the information provided, it suggests that Malaysia's economy has faced challenges during the fourth quarter of 2023. The data update points to the importance of monitoring economic indicators to gauge the health and resilience of a country's economy.
