The survey found that of the 531 Kuala Lumpur residents interviewed, almost 100 considered the current economic situation a hindrance to their financial growth.

However, 31.6% of the respondents said that they were better off compared to a year ago.

The factors cited by the respondents for their financial difficulties included the high cost of living, a low wage growth, a mismatch of skilled workers in the labour market and a perceived negative income distribution,” the pollster’s chief executive, Assistant Prof Noppadon Kanika, told Bernama.

Asked about their expectation in the next 12 months, 47.1% of the respondents felt they would remain financially stagnated, 34.6% expected to be better off, and 18.3% predicted a gloomier outlook.

Noppadon said the majority of the respondents expected business owners and investors to experience a positive year ahead.

The survey was conducted between May 13 and 22.