KUALA LUMPUR: Malaysia’s economy is expected to grow slower between June to August, based on its latest leading and coincident indices, the country’s statistics department said Tuesday.
The department said the annual changes of leading index and coincident index in February were slower than the previous month. Concurrently, the diffusion index for coincident remained at 66.7 percent while leading index was below 50 percent.
“Based on this scenario, Malaysia’s economy is expected to grow slower between June to August,” it said in a statement.
According to the statement, the annual change of leading index which monitors the economic performance in advance increased 1.1 percent in February.
Nevertheless, the monthly change of leading index showed a negative growth of 1.2 percent in the reference month.
Expected sales value in manufacturing sector which fell 0.7 percent, and real imports of semi-conductors that dropped 0.6 percent, were the components that significantly caused the decrease, according to the statement.
Meanwhile, the coincident index which measures the current economic activity decreased 0.1 percent in February.
Industrial production index which shrank 0.3 percent, and capacity utilization in manufacturing sector that fell 0.2 percent, were among the components that contributed to the decrease.
