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The Leading Index sustained its positive trajectory with 3.8 per cent in May 2024, illustrating a resilient Malaysian economy
The Leading Index (LI) maintained its positive growth for six consecutive months, reaching 3.8 per cent to 114.2 points in May 2024 as compared to 110.0 points in the same month of the previous year. This improvement was primarily supported by a sturdy gain in the Bursa Malaysia Industrial Index (31.8%), followed by Real Imports of Other Basic Precious & Other Non-ferrous Metals (20.6%). Looking at the monthly performance, the LI also edged up 0.8 per cent mainly contributed by the Number of New Companies Registered (0.5%).
The smoothed growth rate of the LI in May 2024 remained consistently above 100.0 points, reflecting a resilient economy underpinned by increasing tourism activities and promising external demand.
Referring to the current economic scenario, the Coincident Index (CI) maintained its growth momentum of 2.2 per cent to 126.1 points in May 2024 as compared to 123.4 points in the same month a year ago. This increase was driven by the robust performance in the Real Contributions, EPF (8.7%). Simultaneously, the monthly change in the CI also registered an increase of 0.6 per cent, bolstered by all components except the Capacity Utilisation in Manufacturing (-0.2%).
The Diffusion Index for LI remained unchanged at 85.7 per cent in the reference month. Meanwhile, the Diffusion Index for CI increased to 66.7 per cent as compared to 50.0 per cent in the previous month.
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