FMM In The News: THE MALAYSIAN RESERVE, March 11, 2024 - THE Federation of Malaysian Manufacturers (FMM) foresees a moderate growth trajectory for Malaysia’s manufacturing sector in the first half of 2024 (1H2024), based on insights gathered from the recent FMM Business Conditions Survey covering 2H2023. 

Despite challenges such as subdued external demand, geopolitical tensions, and supply chain disruptions, the sector exhibits cautious optimism.

The survey reveals positive trends in the manufacturing landscape, indicating recovery in the latter half of 2023. 

The general business conditions index surged to 89, reflecting notable improvement and an overall cautious optimism within the industry. 

Projections for 1H2024 indicate optimism in local and export sales, with indices reaching 92 and 89, respectively.

Manufacturing production volume is expected to rise, evident in the increased production volume index reaching 97.

Employment expectations also show positivity, with the employment index at 105, suggesting an uptick in hiring.

While the manufacturing sector faced challenges in 2023, including increased input costs, weak demand, and currency depreciation, opportunities for growth are anticipated in 1H2024. 

Respondents express optimism about increased capital investment and employment during this period. –TMR