Malaysia: Industrial output bounces back in July
Industrial output rose 1.2% year-on-year in July, swinging from June’s 0.4% drop and marking the first positive reading since February.
July’s rebound was driven by a markedly softer drop in mining and quarrying output, while manufacturing production increased at a more moderate pace. Meanwhile, electricity and gas generation output fell at a faster pace than in June.
On a seasonally-adjusted monthly basis, industrial production rose at a significantly softer pace of 0.8% in July (June: +26.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.7%, down from June’s minus 3.6%.