Malaysia: Growth in industrial production accelerates in August
October 12, 2016
Industrial production increased 4.9% in August from the same month last year. The figure came in above the 4.1% increase registered in July, but undershot market expectations of a 5.2% rise. According to the Department of Statistics Malaysia, the reading was mainly driven by higher growth in the manufacturing and electricity sectors, while mining expanded at a slightly slower pace.
On a monthly basis, industrial production fell 0.5% in August in seasonally-adjusted terms, which followed July’s 0.6% decrease. Annual average growth in industrial production edged up to 3.7% in August from July’s 3.4%.
Author: Luis Lopez Vivas, Economist