Malaysia Industrial production July 2020


Malaysia: Industrial output bounces back in July

September 11, 2020

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%.

FocusEconomics Consensus Forecast panelists expect industrial output to contract 7.7% in 2020, which is unchanged from last month’s forecast. For 2021, panelists expect industrial output to expand 6.4%.


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Malaysia Industrial production Chart

Malaysia Industry July 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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