View of Kuala Lumpur. File photo for representational purposes.
Kuala Lumpur: Malaysia's leading index, which provides an early indication of turning points in the business cycle and the direction of the economy in the near term, rose 0.6 percent to 112.5 points in March as compared to 111.9 points in the previous year, official data showed Friday.
The Department of Statistics Malaysia (DOSM) said in a statement that based on the latest index, the Malaysian economy is expected to continue growing, albeit at a slower pace.
The number of housing units approved (27.8 percent) and the real imports of semiconductors (22.3 percent) contributed positively to this increase.
However, on a monthly basis, the leading index posted a marginal decline of 0.04 percent, influenced by subdued performances, especially in the Bursa Malaysia industrial index and the real imports of semiconductors, both of which registered a decrease of 0.2 percent.
Looking at the smoothed long-term trend in March, the leading index remained below 100 points.
Nevertheless, Malaysia's economy is expected to continue growing, supported by strong economic fundamentals and proactive fiscal management, said DOSM.
Meanwhile, the coincident index, which measures the overall current economic situation, rose by 1.4 percent to 126.8 points in March as compared to 125.1 points in the same month of the previous year.
On the other hand, the monthly coincident level edged down 0.2 percent in March, mainly attributed to a 0.3 percent decline in the capacity utilization in manufacturing.
