The LI, which shows the ability to anticipate the future direction of the economy, was in line with the anticipated promising signs of strong domestic and export demand, as well as the reopening of international borders amid slow global economic growth, according to the Department of Statistics Malaysia.
The increase was mainly backed by the growth in real imports of other basic precious and other non-ferrous metals driven by the import of platinum-based metals and influenced by the low base effect from the previous year.
Concomitantly, the monthly change of LI increased 0.4 percent in the reference month attributed mainly to real imports of other basic precious and other non-ferrous metals and the number of new companies registered.
For the current economic scenario, the coincident index (CI) climbed 12.6 percent year-on-year to 121.5 points in June in tandem with the economic performance in the second quarter of this year where strong growth was recorded.
Furthermore, the CI registered 0.2 percent month-on-month led by the increases in industrial production index, capacity utilization in the manufacturing sector and total employment in the manufacturing sector.
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