KUALA LUMPUR, July 23 ― Malaysian economy is anticipated to face challenges in preserving the recovery momentum as the Leading Index which acts as an indicator of the future movement of the overall economy eased to 6.9 per cent in May 2021 year-on-year after rising 15.7 per cent in April, said the Department of Statistics Malaysia .
At the same time, he said, the LI declined by 2.9 per cent month-on-month with real imports of other basic precious and other non-ferrous metals particularly platinum was among the components that underpinned the decrease of LI. “The emergence of a new lethal variant of the Covid-19 has triggered pessimistic sentiment at global and national frontiers. Further to this, prolong movement restrictions in safeguarding lives may affect the prospects of recovery,” Mohd Uzir said in a statement today.
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