Malaysia: Growth in industrial output accelerates in December

Industrial output grew 3.4% over the same month a year earlier from a revised 2.6% expansion in November (previously reported: +2.5% year-on-year), December’s increase also above market expectations of a softer acceleration. The print was buttressed by a rebound in mining output and a pick up in manufacturing production. On the other, activity in the electricity sector moderated.

Industrial production dropped 1.6% over the previous month in December, contrasting the 0.2% expansion in November. Annual average growth in industrial output was stable at November’s 3.1% in December.

Malaysia Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to rise 3.7% in 2019, which is down 0.3 percentage points from last month’s estimate. For 2020, our panelists see industrial output growing 3.9%.