Many challenges ahead despite rise in leading index

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The increase in the leading index was contributed mainly by real imports of basic precious and other non-ferrous metals, and the import of copper-based metals.KUALA LUMPUR: Malaysia’s leading index (LI) continued to register positive growth, rising by 0.5% year-on-year (y-o-y) to 105.6 points in June from 105.1 points in June last year, said the department of statistics Malaysia (DOSM).The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead.Chief statistician Mohd Uzir Mahidin said the increase was mainly contributed by real imports of other basic precious and other non-ferrous metals, driven by the import of copper-based metals.However, he noted that the LI declined 2.8% month-on-month (m-o-m), following the reduction in all of the components. “Looking at the direction indicated by the decreasing growth rate of sm…