Overview

The Leading Index showed a better annual change at negative 0.5 per cent, signifying better economic recovery ahead 

The performance of Leading Index (LI) for April 2022 eased to negative 0.5 per cent, registering a better negative growth from negative 1.4 per cent in March 2022. The decreased in LI was influenced mainly by the dropped in Number of Housing Units Approved caused by the declined in applications from developers during the said month. Based on month-on-month comparison, LI slipped to negative 0.5 per cent dragged by the Number of Housing Units Approved (-1.4%), Number of New Companies Registered (-0.5%) and Bursa Malaysia Industrial Index (-0.3%). Despite the soften in LI for the reference month, the direction portrayed by the smoothed LI remained favourable by consistently above the long term trend and registered better index points. This implies that the trend of Malaysia’s economic recovery is in better direction. Nevertheless, the issue of inflation and rising commodity prices need to be taken into account considering the global situation.

The Coincident Index (CI) which measures the overall current economic performance is picking up since February 2022, reflecting an increase in economic activities with the economic and social activities are operating at full capacity. The CI continued to climb by 5.3 per cent year-on-year to attain 120.3 points in April 2022. On monthly basis, the growth of CI increased to 2.0 per cent in the reference month as compared to 1.4 per cent in the previous month. The growth was driven by the significant increased in Volume Index of Retail Trade (1.6%). In relation to the reference period of the Malaysian business cycle, the CI detected a recession induced by the COVID-19 pandemic beginning in February 2020 and ending in July 2021.

The Diffusion Index for LI and CI remained above 50.0 per cent. The Diffusion index for LI slowed to 57.1 per cent while the Diffusion Index for CI remained at 100.0 per cent.

The complete indicators on Leading, Coincident and Lagging Indexes are shown in the following Table 4   .

The full publication of the Malaysian Economic Indicators: Leading, Coincident & Lagging Indexes, April 2022 can be downloaded through eStatistik Portal.

Released by:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA

DEPARTMENT OF STATISTICS MALAYSIA

23 June 2022
 

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