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The Leading Index increased by 2.5 per cent in November 2024,
indicating continued economic growth
Malaysia's economic performance continues to show positive growth with the Leading Index (LI) recording 2.5 per cent in November 2024, reaching 112.6 points as compared to 109.9 points in the same month of the previous year. The double-digit increase in the Bursa Malaysia Industrial Index (24.6%) has been the main contributor to this rise. On a monthly basis, the LI also showed a rebound of 1.1 per cent after experiencing a decline for three consecutive months. This positive performance was contributed by almost all components, except for the Number of Housing Units Approved (-0.2%) and the Number of New Companies Registered (-0.1%).
Looking at the smooth long-term trend in November 2024, the LI remains below the 100.0 points. Although still below the trend, Malaysia's economy is expected to continue growing, supported by strong domestic demand and increasing semiconductor related exports following a sustained global demand.
As for the current economic position, the Coincident Index (CI) maintained its positive growth by recording 1.9 per cent, reaching 126.4 points as compared to 124.1 points in the same month of the previous year. This performance reflects widespread improvement across all components of the CI. At the same time, the monthly performance of the CI marginally increased by 0.03 per cent in November 2024, supported by the rise in Real Salaries & Wages in Manufacturing and the Industrial Production Index, accounting for 0.1 per cent respectively.
The Diffusion Index for LI remained 28.6 per cent in the reference month. Meanwhile, the Diffusion Index for CI decreased to 50.0 per cent as compared to 83.3 per cent in the previous month.
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