The Leading Index (LI) rose by 3.8% to reach 114.2 points in May 2024, up from 110.0 points in the same month the previous year.
Today, the Department of Statistics Malaysia (DOSM) released the latest Malaysian Economic Indicators, highlighting the performance of the Leading, Coincident, and Lagging Indexes for May 2024.
The Leading Index (LI), which serves as a predictor of economic trends over the next four to six months, demonstrated robust growth, marking its sixth consecutive month of positive expansion.
Chief Statistician Malaysia, Dato’ Sri Dr. Mohd Uzir Mahidin sais, “This growth was primarily driven by significant increases in the Bursa Malaysia Industrial Index (31.8%) and Real Imports of Other Basic Precious & Other Non-ferrous Metals (20.6%). On a monthly basis, the index edged up by 0.8%, mainly attributed to a rise in the Number of New Companies Registered (0.5%).
The smoothed growth rate of the Leading Index for May 2024 consistently remained above 100.0 points, indicating a resilient economy bolstered by expanding tourism activities and robust external demand, he added.
Meanwhile, the Coincident Index (CI), which measures current economic performance, also maintained positive momentum, increasing by 2.2% to 126.1 points in May 2024 compared to 123.4 points in the same month a year ago.
This growth was driven by strong performance in Real Contributions, EPF (8.7%). Monthly changes in the Coincident Index showed a 0.6% increase, supported by gains across all components except Capacity Utilisation in Manufacturing (-0.2%).
The sustained growth in both the Leading and Coincident Indexes reflects a positive economic outlook for Malaysia, supported by robust domestic activities and favourable external conditions.
