MALAYSIA'S GROWTH MOMENTUM TO CONTINUE IMPROVING - MIDF AMANAH
KUALA LUMPUR, Nov 26 -- MIDF Amanah Investment Bank Bhd anticipated Malaysia’s growth momentum to continue improving as signalled by the recent encouraging readings of the leading index (LI) in September 2021.
In a note today, the investment bank said the economic recovery would be boosted by further relaxation of the stringent lockdown restrictions, fiscal measures and the easy monetary policy.
"However, the uncertainties surrounding the COVID-19 situation, the soaring commodity prices and the ongoing global supply chain bottlenecks are some of the factors which could derail the economic growth in the near term,” it added.
On Thursday, the Department of Statistics announced that LI in September 2021 rebounded by 0.6 per cent year-on-year (y-o-y) to 110.5 points in September 2021, after a contraction of 2.3 per cent (109.8 points) in August.
The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the LI bounced back in September following the relaxation of economic activities, in line with the transition phase of the National Recovery Plan.
MIDF Amanah said the LI’s first expansion in three months indicates Malaysia’s growth prospects would strengthen further in the coming months.
-- BERNAMA
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