Malaysia Industry


Industrial production slows down in January

In January, industrial production added a paltry 0.2% over the same month last year, which was a fraction of the 2.9% expansion observed in December (previously reported: +3.0% year-on-year). Nevertheless, the print overshot market expectations that had industrial production falling 1.0%. According to the statistical office, the deceleration seen in January was broad-based, as all main sub-components decreased compared to the previous month. A month-on-month analysis confirms the moderation suggested by the annual figures, as industrial production contracted 3.1% in seasonally adjusted terms (December: +1.2% mom). Despite the January deceleration, the trend was stable, with the annual average growth in industrial production remaining unchanged at December's 1.4%

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