PETALING JAYA: The Malaysian Economic Indicators: Leading, Coincident & Lagging Indexes for April 2024 indicates significant turning points in the business cycle and the direction of the country’s economy in the near term.
Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said, “The Leading Index (LI) for Malaysia continued to increase 4.3% in April 2024, achieving 113.1 points as against 108.4 points in the previous year. The fifth consecutive month of increases suggests that the economy remained in a growing momentum. Improvements were observed in all components except for Real Imports of Semiconductors (-1.5%).
“After a marginal decline of 0.5% in March 2024, the monthly change of LI bounced back by 0.8% in April 2024.
“This turnaround was contributed by the rising Number of Housing Units Approved (0.8%), Real Imports of Semi Conductors (0.2%) and the Number of New Companies Registered (0.2%)”.
Looking at the trend in April 2024, the LI remained above 100 points, reflecting continued economic growth in the coming months supported by robust domestic demand and a sustainable expansion of the Manufacturing and Services sectors.
The Coincident Index (CI) which measures the overall current economic performance, rose by 3.0% in April 2024, reaching 125.4 points as compared to 121.7 points in the same month of the previous year.
The continued double-digit increase in the Real Contributions, Employees Provident Fund (34.1%) was the main contributor to this rise. Referring to the monthly performance, the CI also increased by 0.3% primarily backed by the increase in the Total Employment in Manufacturing (0.2%).
The Department of Statistics Malaysia has launched OpenDOSM NextGen as a medium that provides a catalogue of data and visualisations to facilitate users' analysis of various data and can be accessed through https://open.dosm.gov.my.
