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新2备用网址:Malaysia\u2019s economic outlook positive in the months ahead

新2备用网址:Malaysia\u2019s economic outlook positive in the months ahead

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The Department of Statistics Malaysia says the expansion of the country’s leading index in May was mainly due to the increment in real imports of other basic precious and other non-ferrous metals, driven by the encouraging demand for platinum-based imports. – The Malaysian Insight file pic, July 25, 2022.

MALAYSIA’S leading index (LI) rebounded 2.2% year-on-year (y-o-y) to 111.2 points in May, up from a y-o-y contraction of 0.5% in April (110.8 points), indicating a positive economic outlook in the months to come, the Department of Statistics Malaysia (DOSM) said.

The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead.

“The LI improved in May 2022 with the long-term trend index remaining above 100.0 points. However, it must be noted that efficient and effective inflation management by the government is crucial for sustainable economic growth,” DOSM said in a statement today.

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Chief statistician Mohd Uzir Mahidin said the expansion of the LI was mainly due to the increment in real imports of other basic precious and other non-ferrous metals, driven by the encouraging demand for platinum-based imports. 

On a month-on-month (m-o-m) basis, he said, the LI grew 0.4% in May versus a contraction of 0.4% in April, mainly supported by growth in the number of housing units approved (+1.2%), real imports of other basic precious and other non-ferrous metals (+0.2%) and number of new companies registered (+0.1%).

Meanwhile, the coincident index (CI) – which reflects the current state of the economy – grew 6.4% y-o-y in May from 5.3% y-o-y in April.

On a monthly comparison basis, it said the CI increased 0.8% in May, mainly contributed by the volume index of retail trade, which grew 0.7% m-o-m. – July 25, 2022.


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