Malaysia Industry


Industrial production reaches six-month low in July

In July, industrial production added only 1.4% over the same month last year, which was well below the 3.7% rise tallied in June and undershot market expectations that had industrial production rising 3.0%. In fact, the July print represented the lowest growth rate since January. According to the statistical office, the deceleration seen in July was mainly due to a sharp decline in the mining sector as well as a remarkable slowdown in electricity output. On the other hand, the manufacturing sector improved over the previous month. A month-on-month analysis corroborates the deterioration suggested by the annual figures, as industrial production dropped 4.7% in seasonally adjusted terms, which followed the 1.8% decline seen in June. Despite the slowdown in July, the trend continues to point upwards, with annual average growth in industrial production inching up from 3.2% in June to 3.3%.

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Malaysia Industry Chart

Malaysia Industry July 2012

Note: Annual variation of industrial production in %.
Source: Department of Statistics Malaysia and FocusEconomics calculations.

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