Overview

The Leading Index increased by 3.1 per cent in December 2024,
signalling an optimistic economic prospect in the near term

Malaysia's economic performance continues to show encouraging progress with the Leading Index (LI) recording a 3.1 per cent increase in December 2024, reaching 113.6 points versus 110.2 points in the same month of the previous year. This performance was supported by continued strength in the Bursa Malaysia Industrial Index which surged 27.1 per cent and the Real Imports of Semi Conductors, which rose by 21.6 per cent. In line with this, the monthly performance of the LI grew by 0.8 per cent driven mainly by the Bursa Malaysia Industrial Index (0.4%) and the Number of Housing Units Approved (0.3%).

Looking at the smoothed long-term trend in December 2024, the LI continued below 100.0 points. Nevertheless, Malaysia's economy is expected to remain resilient, supported by a strong domestic demand following the implementation of salary increases for civil servants, the adjustment of the minimum wage and a strengthening of the labour market.

Regarding the current economic performance, the Coincident Index (CI) also experienced an annual increase of 1.8 per cent, reaching 126.1 points as compared to 123.9 points in the same month of the previous year. The Industrial Production Index demonstrated robust performance with 4.6 per cent, positioning it as the primary contributor to the increase. However, the monthly performance of the LI recorded a marginal decline of 0.3 per cent in December 2024 influenced by decreases in most components of the CI, except for the Capacity Utilisation in Manufacturing (0.03%) and the Volume Index of Retail Trade (0.01%).

The Diffusion Index for LI showed an increase in December 2024 by registering 42.9 per cent as compared to 28.6 per cent in the previous month. Meanwhile, the Diffusion Index for CI remained unchanged at 50.0 per cent.

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