Economy on recovery path as leading index rises 8. %% in September

KUALA LUMPUR: Malaysia’s economy is expected to continue its recovery, as seen in the Leading Index (LI), which rose 6.6 per cent to 109 in September 2020. to point, as stated by the statistics department.

Chief statistician Datuk Seri Dr Mohd. Mohammad Uzair Mahidin said the monthly change in LIs showed a similar trend, showing a growth of 0.9 per cent (August 2020: – 0.5 per cent) and others, especially imports of electronic integrated circuits. .

“Correspondingly, there has been a significant increase in the number of new companies registered, especially in the wholesale and retail trade sub-sector,” he said in September 2020 on Malaysia’s economic indicators: leading, coincidence and the Lag Ging Index.

“In turn, LI’s growth rate remained above the (slowing) trend indicating that Malaysia is keeping economic recovery on the charts despite challenging circumstances.”

LI operations are used an average of four to six months ahead to forecast economic direction.

In addition, he said the 2021 budget announcement, which aims at people’s prosperity, business sustainability and economic resilience, will revive the post-epidemic economy.

However, the increasing number of COVID-19 cases and the expansion of the current Conditional Movement Control Order (CMCO) could dampen the LI signal.

Mohammed Uzair said the Cincinnati Index (CI) rose 113.1 points in the reference month, showing a good year-on-year growth, down 1.0 per cent from -2.3 per cent in August 2020.

The CI that reflects the current state of the economy is the volume index of retail trade (0.3. 0.3 per cent) as the main driver of the monthly growth in September (August Gust: 0.5 per cent driver).

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“Accordingly, the sales value of wholesale and retail trade stood at RM110.8 billion in September, an increase of 0.25 per cent year-on-year. This was the first positive growth since the COVID-19 outbreak.” 17.1 percent. “

Current economic performance is also reflected in manufacturing sales in September 2020, which rose 3.7 per cent to RM121.2 billion.

The increase in sales value was driven by increases in transport equipment and other manufactured products (14.3 per cent), food, beverages and tobacco products (14.2 per cent), and electrical and electronics products (7.2 per cent). – Barnama

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