KUALA LUMPUR, Aug 24 (NNN-BERNAMA) – Malaysia’s economy is anticipated to continue expanding in the upcoming months, with the leading index registering a 3.5-percent positive growth in June, official data showed, yesterday.
The Department of Statistics Malaysia (DOSM), said in a statement that, the Bursa Malaysia Industrial Index, demonstrated robust growth with 42.2 percent, positioning it as the primary contributor to the increase.
However, the monthly performance of the leading index decreased marginally by 0.7 percent, due to declines in five out of the seven components, except for the Bursa Malaysia Industrial Index (0.4 percent) and real money supply, M1 (0.2 percent).
“Looking at the smoothed long-term trend in June, this year, the leading index remained above 100 points. This positive trajectory reflects Malaysia’s sustainable and resilient economic growth. As Malaysia is a consumer driven economy, an implementation of salary revision initiative is poised to boost domestic spending,” the DOSM said.
Regarding the current economic performance, the coincident index maintained its positive growth since Sept, 2021, with a growth of 2.6 percent.
The real contributions, the Employees Provident Fund (8.5 percent increase) was the main driver of this increase. This was followed by a 6.4-percent rise in the volume index of retail trade.
Correspondingly, the monthly performance of the coincident index showed a similar pattern, increasing 0.2 percent contributed by all components, except for capacity utilisation in manufacturing (-0.3 percent).– NNN-BERNAMA
