KUALA LUMPUR, Feb 16 — Bank Negara Malaysia (BNM) said today the country’s economy showed resilience in the fourth quarter of 2023, expanding by 3 per cent.
It said the growth, following a trajectory of 3.3 per cent in the third quarter and 2.9 per cent in the second quarter of 2023, was bolstered by several key factors.
“Household spending remained supported by improving labour market conditions and easing cost pressures. The unemployment rate declined to the pre-pandemic level of 3.3 per cent while the labour force participation rate was at a historic high in 2023,” BNM said in a statement here.
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