Malaysia's Latest Leading Index Shows Healthier Economic Prospect In Near Future

KUALA LUMPUR, (APP - UrduPoint / Pakistan Point News - 23rd Feb, 2024) Malaysia's latest leading index has shown healthier economic prospects in the near future, the Department of Statistics Malaysia (DOSM) said Friday.

The DOSM said in a statement that Malaysia's leading index, a tool utilized for predicting economic trends for an average of four to six months ahead, bounced back to a positive trajectory of 0.3 percent 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.

Looking at the monthly performance, the leading index also increased 0.3 percent, contributed by the Bursa Malaysia Industrial Index and the number of housing units approved.

Referring to the current economic scenario, the coincident index rose 2.3 percent 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.