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Malaysia CPI inflation 2.0% y-o-y (consensus 2.0) in Aug-23

- Malaysia's CPI inflation in August 2023 was 2.0% y-o-y in line with the consensus estimate.
- The core CPI inflation rate was 2.5% y-o-y in August 2023, indicating a potential slowdown in price growth in Malaysia.

Malaysia industrial production 0.72% y-o-y (consensus 0.2%) in Jul-23

- Industrial production in Malaysia returned to positive growth of 0.72% year-on-year in July 2023, marking the highest growth since May 2023 and above the expected 0.2%.
- However, the growth rate remains 3.02 percentage points below the one-year average and falls short by 5.24 percentage points when compared to the long-run average, emphasizing the need for sustained improvement in the industrial sector.

Malaysia unemployment rate 3.4% in Jul-23

- Malaysia's unemployment rate remained at 3.4% in July 2023, showing stability in the labor market.
- The current unemployment rate is 0.14 percentage points below the one-year average and 0.15 percentage points below the long-run average, indicating an improvement in employment conditions.

Bank Negara Malaysia: Sep-23

• The MPC's unsurprising decision to maintain the OPR at 3.00 percent reflects a balanced assessment of global economic challenges and Malaysia's domestic growth drivers.
• While Malaysia's near-term economic trajectory showcases promise, driven by domestic factors like steady employment and infrastructural projects, risks such as commodity production declines persist.
• Inflation trends in Malaysia are easing; however, several dynamic factors like global commodity prices and policy shifts could disrupt this pattern.