‘Malaysians still upbeat about economy’

KUALA LUMPUR - A RECENT survey to gauge the economic pulse of the nation shows that although Malaysians feel it will be a tough year ahead for them, they still have confidence in the economy.

The quarterly poll indicated that 58 per cent of Malaysians were more positive about the economic outlook this year compared with 47 per cent in December last year.

However, about 70 per cent felt that they would have greater difficulty in making ends meet this year.

Three months ago, Ipsos Observer AsiaBus, via telephone interviews, polled 1,000 respondents in central, north, south and the east coast of Malaysia, aged between 16 and 64.

The survey polled all ethnic groups and demographics, in urban, rural and market centres, such as Penang and Kuala Lumpur.

Ipsos Malaysia executive director Katharine Davis said Malaysians living in rural areas (65 per cent in 2014, compared to 53 per cent in 2013) are most concerned about their personal financial situation, followed closely by those living in market centres (52 per cent this year, as compared to last year’s 39 per cent).

Despite these concerns, most Malaysians feel upbeat about the 2014 economic outlook for the country.

Compared with last year, there has been a positive increase across all demographic groups.

For instance, among the different ethnicities, 15 per cent more Chinese are optimistic about the country’s economy compared to last year, while 12 per cent more Malays, and five per cent of Indians and others feel the same.

Those aged between 25 and 34 are the most positive about the economy this year, while those aged between 55 and 64 feel almost the same as last year, with a slight increase of two per cent.

“When it comes to the 2014 economic outlook for Malaysia, there is a greater sense of confidence among Malaysians this year than there was last year,” said Davis.

“These findings are corroborated by wider economic data that showed a strong performance in the first quarter of this year, particularly in the construction, manufacturing and services sectors.” -NST