Leading Index rises to 111.3 pts in Nov 2021, signalling positive economic recovery

by BERNAMA / pic by MUHD AMIN NAHARUL

KUALA LUMPUR – Malaysia’s Leading Index (LI) performance remained positive in November 2021, rising to 111.3 points from 109.4 points in November 2020 as the economy gradually recovered from the COVID-19 disruptions, said the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Sri Mohd Uzir Mahidin said this was mainly contributed by the growth in the Number of Housing Units Approved.

The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead.

In a statement today, he said the rise in the LI is a positive indication of a better economic recovery in the coming months.

He said the recent floods are expected to have a limited effect on the economic recovery as the government’s move to provide aid, namely the RM1.4 billion Keluarga Malaysia Flood Relief Fund, is anticipated to help revive economic activities in the affected areas.

Meanwhile, the Coincident Index (CI) climbed by 3.0 per cent year-on-year to 114.3 points in November 2021.

“The CI, which measures the overall current economic performance, has been picking up since August 2021, reflecting an increase in economic activities as containment measures are progressively relaxed,” said Mohd Uzir.