Survey: Malaysia heading in wrong direction, graft key concern

More Malaysians are growing pessimistic about the country’s trajectory, saying it is heading in the wrong direction.

According to a survey by Ipsos Malaysia from January to March, 47 percent of the respondents believed Malaysia was not on the right track.

This is nearly double the percentage recorded in January last year, which was 26 percent.

A total of 500 respondents, aged between 18 and 74, participated in the latest survey.

As for what concerns them, Ipsos’ group managing director Arun Menon and public affairs research manager Atticus Poon said most respondents cited political corruption as their primary concern, which stood at 50 percent.

It was a three percent increase compared to the previously recorded figure.

“Other concerns include inflations (38 percent), unemployment (32 percent), poverty and social inequality (31 percent) and taxes (23 percent),” they said in a statement.

Notably, Malaysians are less concerned about crime and violence than global population trends.

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Consumer confidence

Menon and Poon noted that declining optimism has also affected consumer confidence.

The Consumer Confidence Index, derived from the same study, reflected fluctuating sentiment among consumers.

“Malaysia's quarterly consumer confidence has decreased from 54 percent to 49 percent throughout the past year, with a significant dip in the last quarter of 2023.  percent to 49 percent throughout the past year, with a significant dip in the last quarter of 2023.

“In contrast, the global average has remained constant, hovering between 48 percent and 49 percent.

“Even though consumer confidence stabilised in the first two months of the year (January and February), it further dived by 4.2 percent in March.”

In a nutshell, the duo said Malaysians are becoming concerned about their finances and are reluctant to spend.

“As the hopeful months of the New Year have subsided, more Malaysians have become deeply concerned about their financial situation and are extremely apprehensive about spending.” - Mkini