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