Overview

Malaysia's economy is expected to continue strengthening in the fourth quarter of 2024
with the leading index recording 5.2 per cent in July 2024

Malaysia witnessed encouraging economic performance in July 2024 with the LI registering 5.2 per cent, reaching 115.1 points as compared to 109.4 points in the same month of the previous year. This growth is driven by the Real Imports of Semi Conductors which surged by 36.7 per cent and the Bursa Malaysia Industrial Index rose by 35.4 per cent. The monthly performance of the LI also shows a positive rebound by registering 1.1 per cent in July 2024, as compared to a decline of 0.4 per cent in June 2024. The Real Imports of Semi Conductors (1.0%) contributed the most to this growth, indicating a resurgence in the technology sector and related industries.

Looking at the smoothed long-term trend in July 2024, LI consistently exceeded 100.0 points, illustrating a resilient Malaysian economy supported by positive expansion in domestic consumption and continued demand by external markets.

Meanwhile, the Coincident Index (CI) also demonstrated consistent growth with an increase of 2.8 per cent in July 2024, reaching 127.3 points as compared to 123.8 points in the same month of the previous year. The overall increase in the CI is attributed to improvement across all components. Similarly, the monthly performance of the CI inched up by 0.7 per cent, contributed by all components except the Volume Index of Retail Trade (-0.1%).

The Diffusion Index for LI slowed to 71.4 per cent in July 2024, down from 85.7 per cent in the previous month. Meanwhile the Diffusion Index for CI increased to 100.0 per cent in the reference month.

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Baharudin Mohamad

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Email: baharudin[at]dosm.gov.my

Phone: 03 8885 7942

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