Overview

The Leading Index recorded 108.4 points in April 2023, reflecting Malaysia's challenging economic scenario

Leading Index for Malaysia declined further to negative 2.7 per cent, registering 108.4 points in April 2023 as against 111.4 points in the preceding year. Decreases were recorded in all of the LI component, which resulted in a softer performance except the Number of Housing Units Approved showed an uptick. Concurrently, the monthly LI dropped 1.6 per cent in April 2023, as opposed to negative 1.1 per cent in the previous month. Apart from Expected Sales Value in Manufacturing, most components similarly experienced downturns.

The April smoothed LI growth rate remained below the 100.0 points trend for seven consecutive months, reflecting Malaysia's challenging economic outlook in the near term, with global economic conditions adding to the challenges.

In terms of the current economic situation, the Coincident Index (CI) registered 121.8 points in April 2023, an increase of 2.2 per cent compared to 119.2 points in the same month of the previous year. The increase in the Volume Index of Retail Trade (9.5%) contributed significantly to this growth. Meanwhile, the CI decreased by 0.1 per cent month on month, owing to the unfavourable performance of the Industrial Production Index (1.0%).

The level Diffusion Index for LI reached 57.1 per cent, which was better than 42.9 per cent recorded in the previous month. Meanwhile, the Diffusion Index for CI remained at 66.7 per cent since February 2023.

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