Malaysia's economic recovery will continue to be resilient as shown by the Leading Index
Malaysia's economic recovery will continue to be resilient. The level of the Leading Index (LI) continued to portray an upward trend by reaching 111.3 points in the reference month compared to 110.9 points in February 2022, increased by 0.4 per cent. The increase was primarily supported by Number of Housing Units Approved (0.3%) and Number of New Companies Registered (0.3%). However, the year-on-year LI slipped to negative 1.5 per cent in March 2022 mainly due to performance in Real Imports of Other Basic Precious & Other Non-ferrous Metals. Further analysis from a directional perspective, indicates that the short-term economy is expected to remain on the path of recovery. Although, rising commodity prices following the protracted global conflict led to a further decline in purchasing power to achieve a smooth and sustainable recovery.
The performance of the Coincident Index (CI) rose by 3.1 per cent to 117.9 points in March 2022 (March 2021: 114.3 points), reflecting the encouraging economic activity over the same month in 2021. The month-on-month comparison of CI posted an increase of 1.4 per cent. The growth was driven by a significant rise in Capacity Utilisation in Manufacturing sector (0.7%) and Total Employment in Manufacturing sector (0.4%).
The Diffusion Index for LI showed a downward trend in March 2022 by registering 74.1 per cent, representing an increase of five LI components as against to the past six months. Apart from that, the Diffusion Index for CI remained at 100.0 per cent for four consecutive months.
The full publication of the Malaysian Economic Indicators: Leading, Coincident & Lagging Indexes, March 2022 can be downloaded through eStatistik Portal.
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS MALAYSIA
25 May 2022
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
E-mail : yusrizal.razak[at]dosm.gov.my