In April 2023, the Leading Index (LI) for Malaysia, a crucial instrument for predicting future economic shifts, plunged to -2.7%, slipping to 108.4 points from 111.4 points in the previous year, reported the Department of Statistics Malaysia (DoSM). This marks the seventh month of the LI lingering below the 100-point benchmark, indicating a challenging economic trajectory for Malaysia as global conditions exacerbate the situation.
While all LI components logged declines, signalling a muted performance, the number of approved housing units demonstrated a silver lining with a slight increase. Concurrently, the monthly LI experienced a 1.6% drop in April 2023, exceeding the -1.1% in March 2023. Most sectors, barring the manufacturing sales value category, bore the brunt of downturns.
As for the current economic landscape, the Coincident Index (CI) showed a 2.2% uplift year-on-year in April 2023, rising to 121.8 points. This growth can be credited to a 9.5% swell in the retail trade volume index. However, the CI slid 0.1% month-on-month, largely due to a sluggish Industrial Production Index, which dipped by 1%. This news is based on a malaymail.com article.
