Malaysia: Growth in industrial production eases somewhat in August

Industrial production increased 2.2% in August over the same month a year ago, down from July’s 2.6% expansion. The result—which was slightly above market expectations—was driven by robust growth in the manufacturing and electricity sectors. The mining sector, however, recorded a marked contraction due to a sharp drop in natural gas output and a small decline in crude oil production.

In month-on-month terms, industrial output dropped 0.4% in August, contrasting July’s strong 2.6% expansion. Annual average growth in industrial production moderated from 3.7% in July to 3.4% in August.

Malaysia Industrial Production Forecast

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