GDP grew by 5.8%, surpassing market expectations
The Department of Statistics (DOSM), in its fourth quarterly advance GDP release, estimated 2Q24 GDP growth to expand by 5.8% (1Q24: 4.2%), bringing 1H24 average growth to 5.0%
- This is higher than the house projection of 5.1% and Bloomberg’s consensus of 4.7% with 16 estimates looking at a range of 3.7% - 5.1%.
- On a quarterly basis, growth rebounded by 0.7% (1Q24: - 3.1%), versus house projection of 0.1%. The actual 2Q24 GDP results, with detailed demand and supply breakdown, will be released on August 16.
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