Malaysia's Leading Index Shows Healthier Economic Prospect In Near Future

KUALA LUMPUR, (APP - UrduPoint / Pakistan Point News - 24th Nov, 2023) Malaysia's leading index improved to negative 0.3 percent in September as compared to negative 0.5 percent in the previous month, anticipating a healthier economic prospect in the near future.

The Department of Statistics Malaysia (DOSM) said in a statement on Friday that the leading index, a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead, showed better movement for three consecutive months to negative 0.3 percent by recording 109.3 points in September.

According to the DOSM, the Bursa Malaysia industrial index (20.8 percent) and number of housing units approved (17.6 percent) contributed positively to the leading index.

Meanwhile, declines were observed in imported goods, particularly in the real imports of other basic precious and non-ferrous metals (-16.2 percent) and real imports of semiconductors.