Malaysians remain cautious over state of economy

KUALA LUMPUR: Most Malaysians remain cautious over the country’s economic state despite positive indicators, said global market research firm, Nielsen.

In a statement yesterday, it said many Malaysians still believe the country is currently undergoing a recession, highlighting the fact that the trickle effect of the improving economy had yet to take full effect.

Nielsen’s latest Consumer Confidence and Spending Intentions Global Survey revealed that during the third quarter of 2017 (3Q17), the consumer confidence level for Malaysia showed an index score of 93 percentage points (pp), down one point compared with 2Q.

Nielsen Malaysia managing director, Raphael Pereda said though the figure was below the neutral threshold, it remained at its highest level over a two-year period.

He said although none of the economic key performance indices indicated that the country was in a recession, consumers continued to have a bleak view of the current situation and country’s future.

Pereda noted that the Malaysian economy continued to show strong signs of positive growth, with gross domestic product recording a 6.2 per cent growth in 3Q.

“The higher sentiment observed over the last few quarters, coupled with the continued improvement in KPIs also led to the growth in 1Q in the Fast-Moving Consumer Goods category,” he added. — Bernama