September Leading Index up 8.6% on-year
PETALING JAYA: Malaysia’s Leading Index (LI) increased by 8.6% to reach 109.5 points in September 2020 from 100.8 points in the same month of 2019, according to data provided by the Department of Statistics.
In a statement, Chief Satistician Malaysia Datuk Seri Mohd Uzir Mahidin said real imports of semiconductors, particularly electronic integrated circuits, are among the components that propelled the growth of the LI.
Correspondingly, the number of new companies registered, especially in the wholesale & retail trade subsector, significantly contributed to the increase.
“Concurrently, the growth rate of LI (smoothed) remained above trend which indicates that Malaysia continues to chart economic recovery despite in the challenging circumstances.
“In addition, the announcement of the 2021 Budget which is targeted at the rakyat’s prosperity, business continuity and economic resilience, will revitalise the economy from the pandemic’s aftermath,” he said.
However, the LI signal may be dampened by the rising number of Covid-19 cases and extension of the conditional movement control order to date.
Meanwhile, the coincident index attained 113.1 points in the reference month, showing a better annual growth trend by registering a decrease of 1% in September 2020 compared with -2.3% in August 2020.
This was the first positive growth recorded after the Covid-19 outbreak, led by motor vehicles, which advanced by 17.1%.