MAYBANK Investment Bank (MIB) reported last quarter’s GDP growth being underpinned by expansions in services (+5.0%), manufacturing (+4.1% ), agriculture (+0.6%) and construction (+14.2%) amid decline in mining (-2.7%).
Domestic demand eased (+6.0%) as gross fixed capital formation moderated (+9.7%) reflecting the same trend in private investment (+9.2%) amid higher public investment (+11.6%) and resilient consumption expenditure growth (+4.9%) on sustained private consumption momentum (+5.0%) and firmer public consumption (+4.3%).
Note that the percentage increase or decrease is based on quarter one compared on a year-on-year basis, 2025 – 2024.
“Slower private investment amid resilient private consumption led to private expenditure moderation (+5.9%) while firmer public consumption and investment lifted public expenditure (+6.2%),” said MIB.
Growth dipped for both exports of goods & services (+4.1%) and imports of goods & services (+3.1%), feeding into slower net external demand growth (+19.6%). —May 19, 2025
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