Malaysia's leading index rises 1.3pct on trade, chip demand
KUALA LUMPUR: Malaysia’s leading index posted an annual growth of 1.3 per cent to 114.8 points in June, reflecting the strengthening of Malaysia’s trade activities, said the Statistics Department.
Malaysia's leading index increased by 1.3% in June to reach 114.8 points, according to the Statistics Department. This growth was attributed to rising trade activities and strong demand for electrical and electronics (E&E) products. The index saw a significant boost from real imports of precious metals and semiconductors, with imports of the former rising by 35.1% and those of the latter by 14.2%.
However, the overall performance was tempered by a decline in the number of new companies registered. On a monthly basis, the index showed a slight rise of 0.02%. Looking ahead, the leading index is projected to remain below 100 points, but the economy is anticipated to continue expanding due to robust domestic demand and increased investment activities.
Additionally, a more dynamic global economic environment and the recovery in international trade are expected to further bolster Malaysia's economic growth. The coincident index, which rose by 2.6% year-on-year, was mainly driven by strong growth in all components, with notable contributions from the Employees Provident Fund (16%) and the volume index of retail trade (4.1%).
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
