Positive Economic Outlook For Malaysia As Leading Index Rises – MIDF

KUALA LUMPUR, Jan 27 (Bernama) -- Malaysia’s economy is expected to sustain growth in the near term, with the leading index (LI) accelerating 2.5 per cent year-on-year (yoy) in November 2024, MIDF Amanah Investment Bank Bhd (MIDF) said.  

In a note today, MIDF stated that resilient domestic spending and favourable labour market conditions would support the country’s economic growth.  

“Additionally, exports of electrical and electronics products are set to expand, benefiting from the ongoing global tech upcycle,” it said.  

On Friday, the Department of Statistics Malaysia reported that Malaysia's economic performance remained positive, with the LI increasing 2.5 per cent in November 2024 to 112.6 points, compared to 109.9 points in the same month last year.  

MIDF attributed the sustained annual growth primarily to the strong performance of the Bursa Malaysia Industrial Index, which surged 24.6 per cent yoy.  

“Key drivers to the index growth were the expected sales value for manufacturing, the Bursa Malaysia Industrial Index, and real money supply,” the bank added.  
-- BERNAMA