Malaysia’s economy to expand in Nov 2019-Jan 2020

PETALING JAYA: Malaysia’s economy is expected to enter an expansionary phase in November 2019 to January 2020.

According to Malaysia’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the Leading Index (LI) that provides an early signal on the economic performance in the near future indicated an expansion for the period.

“The monthly change of LI surged 1.4% in July 2019 to attain 119.3 points from 117.6 points in the previous month,” he said in a press statement.

He noted that the number of housing units approved (0.9%), number of new companies registered (0.4%) and real money supply, M1 (0.3%) were the main drivers of the improvement.

Furthermore, the same trend is indicated by the annual change of LI which rebounded to a positive growth of 0.4% in July 2019 after having a negative growth for two consecutive months.

On the other hand, Malaysia’s Coincident Index (CI) lifted 0.9% in the reference month with capacity utilisation in manufacturing sector (0.4%) as the main contributor.

As a reflection of the current economic performance, the CI saw a 1.8% of annual growth in July 2019.