DSM Predicted Lower Economic Growth in Malaysia for 2020

The Department of Statistics Malaysia (DSM) forecasted a slowdown in Malaysia’s economic growth in the months ahead since the Leading Index (LI) which measures the economic direction showed 0.7% YoY growth in January 2020 as compared to a 1.9% YoY growth in December 2019.

Datuk Seri Mohd Uzir Mahidin, Chief Statistician stated that the index for January 2020 did not account for the impacts of COVID-19 which had directly impacted the Malaysian economy since late January 2020. He added that the negative economic impacts resulting from the on-going Coronavirus pandemic would be reflected in the index for February 2020.

The Chief Statistician further added that among seven compon...