Malaysia Industrial production November 2020

Malaysia

Malaysia: Industrial activity declines at fastest pace in six months in November

January 12, 2021

Industrial production tumbled 2.2% in annual terms in November, falling at a faster pace than October’s 0.5% decline and marking the worst reading since May. November's downturn was largely attributed to a more pronounced drop in mining and quarrying output, and a swing to contraction in electricity supply production.

Meanwhile, on a seasonally-adjusted monthly basis, factory output fell at a more moderate pace of 1.0% in November (October: -1.8% mom). Lastly, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.3% in November, down from October's minus 3.9% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to grow 6.4% in 2021, which is up 0.4 percentage points from last month’s forecast. For 2022, panelists expect industrial output to expand 4.5%.


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Malaysia Industry November 20 20

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Department of Statistics Malaysia (DSM).


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