The findings from the “Malaysia Outlook for 2023” study reveals:-
- Although two thirds of Malaysians expect a better year in 2023 than the last year, the expectations are not matching the optimism ahead of 2022, one year ago. The same trend is present both among Asian peers and in the West.
- The majority of both Malaysians and their global peers expect higher prices in 2023. The notion that a stock market crash may be forthcoming is more widely held than it was one year ago
- A large majority of Malaysians expect inflation, interest rates and unemployment to be higher in 2023 than 2022. This view is largely shared by global peers.
Lars Erik Lie, Associate Director, Ipsos Malaysia Public Affairs mentions :- “At the onset of 2022, optimism was high, with people looking forward to a gradual return to normalcy as covid finally receded. Instead, 2022 brought with it new uncertainties, with geopolitical instability and global supply chains struggling to catch up with the reopening of economies.
When we turn the page to 2023, people in Malaysia and across the world are more cautious about the new year than they were one year ago.
Rising cost of living continues to be a major concern, while the fear of stock market volatility is much stronger than it was at the same time last year.
Uncertainty is expected to continue across the economy – both in Malaysia and globally, there are widely held expectations of higher inflation, interest rates and levels of unemployment in 2023 than the year before.”
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