KUALA LUMPUR (XINHUA) – Malaysia’s leading index, which provides an early indication of significant turning points in the business cycle and the direction of the economy in the near term, rose 2.5 per cent year-on-year to 112.6 points in November 2024, official data showed yesterday.
The Department of Statistics Malaysia (DOSM) said in a statement that the double-digit increase in the Bursa Malaysia Industrial Index (24.6 per cent) has been the main contributor.
On a monthly basis, the leading index also showed a rebound of 1.1 per cent after experiencing a decline for three consecutive months. Looking at the smooth long-term trend in November 2024, the leading index remains below the 100 points.
“Although still below the trend, Malaysia’s economy is expected to continue growing, supported by strong domestic demand and increasing semiconductor-related exports following a sustained global demand,” the DOSM said.
As for the current economic position, the coincident index maintained its positive growth by recording 1.9 per cent, reaching 126.4 points.
This performance reflects widespread improvement across all components of the coincident index. At the same time, the monthly performance of the coincident index marginally increased by 0.03 per cent in November 2024.
