ICAEW: Q1 2024 economic growth in Southeast Asia and Malaysia buoyed by electronics exports, but cautious outlook remains

The electronics cycle’s bottoming out is expected to boost Malaysian exports. Malaysia expected to benefit from the electronics recovery in the 2nd half of 2024 Oxford Economics, in research commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW), reported that the electronics sector is a bright spot for Southeast Asia's economy, with the region projected to grow by 4.0% in 2024 and 2025. However, this is below the pre-pandemic average of 5% in the five years prior, largely due to expected challenges in domestic consumption as interest rates remain higher for longer. The report highlights that electronics-focused…