KUALA LUMPUR, May 25 — Malaysia’s leading index (LI) jumped 17.3 per cent year-on-year in March 2021, far higher than the growth of 8.2 per cent and 8.6 per cent recorded in January and February, respectively.
Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the strong performance was in line with the economic growth of 6.0 per cent in that month.
He said all LI components registered growth in March this year compared with March 2020.
Among the components, the number of housing units approved recorded a 160.7 per cent growth while the number of new companies registered and Bursa Malaysia Industrial Index rose by 105.3 per cent and 74.3 per cent, respectively.
Real imports of other basic precious and other non-ferrous metals increased 129.4 per cent, real imports of semiconductors gained 31.3 per cent, real money supply (M1) expanded 17.1 per cent, and expected sales value in the manufacturing sector improved 6.5 per cent, he said here today when announcing the performance of several economic indicators: LI, Coincident Index and Lagging Index.
Mustapa said the Malaysian economy shrank by a marginal 0.5 per cent in the first quarter of this year compared with a 3.4 per cent contraction in the fourth quarter of 2020.
While the Gross Domestic Product showed a decline of 3.5 per cent and 3.6 per cent in January and February respectively, it strengthened in March by recording a growth of 6.0 per cent, he said.
“The economic performance was supported by the strengthening of the manufacturing sector and the recovery of the agriculture sector.
“In terms of demand, the rising trend reflected solid growth in exports of products and services along with a small decline in private consumption spending and fixed asset investment,” he added. — Bernama
