FMM: Economy to grow at the lower end of 4-5pc target this year dragged by slower consumer spending
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The Federation of Malaysian Manufacturers (FMM) predicts that the economy will grow at the lower end of the 4-5% target this year due to slower consumer spending. The FMM attributes the slowdown in consumer spending to the impact of the COVID-19 pandemic and the implementation of various movement control measures. The FMM also highlights that the manufacturing sector has been affected by supply chain disruptions and rising costs of raw materials. The slower economic growth is expected to have an impact on businesses, particularly small and medium enterprises (SMEs), which may face challenges in sustaining their operations. The FMM calls for government support and measures to stimulate consumer spending and boost the manufacturing sector.

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https://www.nst.com.my/business/corporate/2024/03/1031113/fmm-economy-grow-lower-end-4-5pc-target-year-dragged-slower