How do Q1 2025 SPPI figures compare to Q4 2024?

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Malaysia's Services Producer Price Index Saw a Modest Increase in Q1 2025 Compared to Q4 2024

Malaysia's Services Producer Price Index (SPPI) experienced a slight acceleration in its year-on-year growth in the first quarter of 2025, rising by 0.6 per cent compared to a 0.5 per cent increase in the fourth quarter of 2024. This overall upward trend was largely influenced by significant growth in specific service sectors, particularly in arts, entertainment, and recreation, as well as accommodation and food and beverage services. On a quarter-on-quarter basis, the SPPI maintained its growth rate, also increasing by 0.3 per cent in Q1 2025, mirroring the pace observed in the preceding quarter.
Year-on-Year Growth Trends in Key Service Sectors

The year-on-year performance in the first quarter of 2025 showed a notable acceleration in the arts, entertainment and recreation index, which climbed by 6.6 per cent, an increase from the 6.1 per cent recorded in the fourth quarter of 2024. Similarly, the accommodation and food and beverage service activities index saw its growth expand to 3.6 per cent in Q1 2025, up from 3.1 per cent in Q4 2024. Other sectors contributing to the overall increase included education, which rose by 1.2 per cent, health by 0.6 per cent, professional services by 0.5 per cent, and real estate activities by 0.1 per cent.
Declines Observed in Transportation and Information & Communication Indices

In contrast to the general upward trend, the transportation index experienced a more pronounced decline in Q1 2025, falling by 3.1 per cent compared to a 2.4 per cent decrease in Q4 2024. This was largely attributed to a significant drop in the passenger air transport index. The information and communication index also saw a decrease, contracting by 0.2 per cent in Q1 2025, influenced by a slight decline in wireless telecommunications activities.
Quarter-on-Quarter Performance Highlights

The quarter-on-quarter analysis for Q1 2025 indicated a sustained growth momentum for the SPPI, which rose by 0.3 per cent, matching the rate observed in the previous quarter. The accommodation and food and beverage service activities index was a primary driver of this quarterly growth, increasing by 1.0 per cent. The education and arts, entertainment and recreation indices also showed robust quarterly growth, each recording a 0.7 per cent increase.
Mixed Quarterly Movements Across Other Service Indices

Further examination of the quarter-on-quarter movements revealed varied performance across other service sectors. Real estate activities saw a 0.4 per cent increase, while the health index grew by 0.3 per cent, and the professional index by 0.2 per cent. The transportation index also registered a marginal increase of 0.1 per cent on a quarter-on-quarter basis. Notably, the information and communication index remained unchanged in its quarter-on-quarter performance during Q1 2025.

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How do Q1 2025 SPPI figures compare to Q4 2024?

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