KUALA LUMPUR, Jan. 24 (Xinhua) -- Malaysia's economy is expected to grow from March to May, according to official data released by Malaysian Statistics Department on Thursday.
The forecast was based on the leading, coincident and lagging indexes in November last year. According to the statement, the leading index which provides expected economic direction in an average of four to six months ahead rose 0.3 percent to 119 points in November 2018.
The growth was driven by the number of housing units approved, real imports of basic precious and non-ferrous metals and its stock exchange Bursa Malaysia Industrial Index.
On a year-on-year basis, the leading index fell 1.6 percent for the month. Meanwhile, the coincident index, which measures current economic activity, dropped 0.1 percent in November last year.
Real salaries and wages in the manufacturing sector was one of the three component impetus to the decrease of the coincident index in the reference month.
On a year-on-year basis, the coincident index grew 3.6 percent in the month.
