Malaysian economy expected to grow at moderate pace in June to August

2019-04-25 15:10

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KUALA LUMPUR, April 25 (Xinhua) -- Malaysia's economy is expected to keep growing albeit at a slower pace in June to August according to its leading, coincident and lagging Indexes in February, Malaysian Statistics Department said Thursday.

The department said in a statement that the leading index which showed the direction of economy for an average of four to six months ahead, decreased 2.2 percent month-on-month in February.

Two components that posted the highest percentage decrease were real imports of semi-conductors (-0.9 percent) and number of housing units approved (-0.6 percent).

On annual basis, the leading index also fell 2.8 percent year-on-year in February. Meanwhile, the coincident index which indicates the current economic performance decreased 0.9 percent month-on-month in February.

Capacity utilization in manufacturing sector which dropped 0.7 percent was the component that led to the significant decrease.

However, on year-on-year basis, the coincident index rose 2.9 percent in February.

The diffusion index for coincident index reached 50 percent, while the diffusion index for leading index in February remained below 50 percent, according to the statement.
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