Overview

The Leading Index continued to inch up 2.3 per cent in March 2024,
reflecting an optimist economic growth in the near future

The Leading Index (LI) for Malaysia remained in a positive growth for four consecutive months, recording a rise of 2.3 per cent to 112.2 points in March 2024 as compared to 109.7 points in the same month of the previous year. The increase was driven by the strong performance of the Bursa Malaysia Industrial Index (25.4%) and Real Imports of Other Basic Precious & Other Non-ferrous Metals (24.8%). Nevertheless, the monthly change of LI dropped 0.5 per cent, owing to the unfavourable performance by the Number of Housing Units Approved (-0.7%) and Real
Imports of Semi Conductors (-0.4%).

The smoothed growth rate of the LI for March 2024 is consistently above the trend, surpassing 100.0 points, reflecting an optimistic Malaysian economy in line with a robust private consumption and external trade recovery.

As for the current economic position, the Coincident Index (CI) continued its positive growth by registering 125.0 points, rose 2.3 per cent as compared to 122.2 points in the same month of the previous year. Four components contributed positively to the latest increase especially the Real Contributions EPF (19.6%). Concomitantly, the monthly CI also recorded an increase of 0.6 per cent, supported by all components except the Total Employment in Manufacturing (-0.1%).

The Diffusion Index for LI and CI remained above 50.0 per cent in March 2024. Diffusion Index for LI slowed to 57.1 per cent while the Diffusion Index for CI remained at 66.7 per cent.

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