Malaysia's leading index up 0.6 pct in March

Kuala Lumpur: Malaysia s leading index, which provides an early indication of turning points in the business cycle and the direction of the economy in...

Kuala Lumpur: Malaysia's leading index, which provides an early indication of turning points in the business cycle and the direction of the economy in the near term, rose 0.6 percent to 112.5 points in March as compared to 111.9 points in the previous year, official data showed Friday.

The Department of Statistics Malaysia (DOSM) said in a statement that based on the latest index, the Malaysian economy is expected to continue growing, albeit at a slower pace.

The number of housing units approved (27.8 percent) and the real imports of semiconductors (22.3 percent) contributed positively to this increase.

However, on a monthly basis, the leading index posted a marginal decline of 0.04 percent, influenced by subdued performances, especially in the Bursa Malaysia industrial index and the real imports of semiconductors, both of which registered a decrease of 0.2 percent.

Looking at the smoothed long-term trend in March, the leading index remained below 100 points.