Overview

The Leading Index recorded 1.8 per cent in September 2024,
indicating that the economy will continue to grow in the near term

The annual growth of Malaysia's Leading Index (LI) remained positive in September 2024 by recording 1.8 per cent, reaching 111.5 points as compared to 109.5 points in the same month of the previous year. This marks a positive performance for the tenth consecutive month since December 2023, indicating a continuation of the country’s economic growth. The Bursa Malaysia Industrial Index was the main contributor to this increase, rising by 30.4 per cent. However, the monthly performance of the LI declined by 2.6 per cent due to decreases in most components, except for the Real Money Supply, M1 and Bursa Malaysia Industrial Index, accounting for 0.2 per cent respectively.

Looking at the smoothed long-term trend in September 2024, the LI consistently exceeded 100.0 points, indicating that the Malaysian economy is expected to continue growing, backed by optimistic domestic economic performance. Nonetheless, global challenges may pose potential risks to this growth trajectory.

Regarding the current economic performance, the Coincidence Index (CI) also experienced an annual increase of 1.3 per cent, reaching 125.6 points as compared to 124.0 points in the same month of the previous year. This performance was driven by almost all components, except for the Real Salaries and Wages in Manufacturing, which decreased by 0.6 per cent. However, the monthly performance of the CI saw a marginal decline of 0.7 per cent, due to decreases in four out of six components, except the Total Employment in Manufacturing (0.1%) and Real Salaries and Wages in Manufacturing (0.02%) which showed slight increases.

The diffusion index for LI and CI showed a downward trend in September 2024, recording 42.9 per cent and 66.7 per cent respectively compared to 71.4 per cent and 100.0 per cent in the previous month.

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