BMI Research says consumer confidence has largely been steady, reflecting a positive consumer mindset, even as inflationary pressures on certain commodities weighed on low- and mid-income households.
“Risks to this outlook would be higher-than-anticipated inflation and more aggressive economic weakness, which will weigh heavier on household purchasing power,” it said. On the ringgit, BMI expects it to strengthen against the US dollar, from 4.50 in 2023 to 4.40 in 2024.
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