Malaysia Leading Index Drops 2.4% in November

Malaysia’s leading economic index fell 2.4% month-on-month in November 2025, reversing a downwardly revised 2.4% increase in the previous month. This marked the fifth decline so far in 2025, with five of the seven components decreasing. Declines were seen in housing units approved (-0.1% vs 0.5% in October), real imports of other basic precious and non-ferrous metals (-0.7% vs 1.5%), real semiconductor imports (-0.9% vs 0.6%), new company registrations (-0.3% vs -0.1%), and the Bursa Malaysia Industrial Index (-0.4% vs -0.1%). Meanwhile, real money supply (0.02% vs 0.1%) and manufacturing sales value (0.0005% vs -0.1%) both edged up. On a year-on-year basis, the leading index rose 0.2%, following a downwardly revised 3.4% gain in the previous month. Meanwhile, the coincident index, a gauge of current economic conditions, fell 0.5%, reversing a 0.6% gain in October.

Malaysia’s leading economic index climbed 2.6% month on month in October 2025, recovering from a 0.5% drop in the previous month and marking the first increase in three months. Two of the seven components rebounded: housing units approved (0.5% vs -0.8% in September) and real imports of other basic precious and non-ferrous metals (1.8% vs -0.6%). Meanwhile, real semiconductor imports advanced at a faster pace (0.5% vs 0.3%), and real money supply continued to rise (0.1% vs 0.3%). By contrast, declines were seen in expected manufacturing sales value (-0.1% vs -0.1%), new company registrations (-0.1% vs 0.002%), and the Bursa Malaysia Industrial Index (-0.1% vs 0.4%). On a year-on-year basis, the leading index rose 3.6%, following a 0.8% gain in the previous month. Meanwhile, the coincident index, a gauge of current economic conditions, increased 0.6% after rising 0.2% in September.

Malaysia’s leading economic index slipped 0.5% month-on-month in September 2025, easing from a downwardly revised 0.6% drop in the previous month and marking a second straight month of decline. Three of the seven components decreased: housing units approved (-0.7% vs 0.1% in August), real imports of other basic precious and non-ferrous metals (-0.5% vs 0.1%), and expected manufacturing sales value (-0.1% vs 0.2%). New company registrations were broadly flat (0.001% vs -0.5%), while gains in real money supply (0.3% vs -0.1%), the Bursa Malaysia Industrial Index (0.3% vs 0.1%), and real semiconductor imports (0.2% vs -0.5%) helped cushion the fall. Year-on-year, the leading index rose 0.8% after a 0.3% decline in the previous two months. Meanwhile, the coincident index, a gauge of current economic conditions, increased 0.2%, reversing August’s 0.6% drop on the back of stronger retail trade.