Overview

Leading Index rebounded to 0.3 per cent with 110.1 points in December 2023,
anticipating a healthier economic prospect in the near future

The Malaysia’s economic growth is expected to show a better performance in the second quarter of 2024. This is supported by the Leading Index which bounced back to a positive trajectory of 0.3 per cent to attain 110.1 points in December 2023 as compared to 109.8 points in the same month of the preceding year. This was the first positive growth after nine consecutive months of declines, driven by a rebound in the Number of Housing Units Approved (41.5%) as compared to negative 25.8 per cent in November 2023. Looking at the monthly performance, the LI also increased 0.3 per cent, contributed by the Bursa Malaysia Industrial Index and Number of Housing Units Approved, accounting for 0.5 per cent respectively.

The smoothed growth rate of the LI for December 2023 remained below the 100.0 points trend. Although it remained below the trend, the Malaysian economy is expected to improve in the near term supported by resilient domestic demand and stable labour market conditions.

Referring to the current economic scenario, the Coincident Index (CI) rose 2.3 per cent to 123.1 points in December 2023 as compared to 120.3 points in the same month of the previous year. The uptick was contributed by all components except the Industrial Production Index (-0.1%). However, the CI decreased by 0.5 per cent month-on-month, owing to the unfavourable performance of the Industrial Production Index (-0.3%).

The Diffusion Index for LI showed a downward trend in December 2023 by registering 28.6 per cent as compared to 42.9 per cent in the previous month. Concurrently, the Diffusion Index for CI improved to 66.7 per cent in the reference month.

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