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Malaysia Industrial production October 2023

Malaysia: Industrial output grows at fastest pace since May in October

Industrial production grew 2.7% year on year in October (September: -0.5% yoy). The print marked the best reading since May. Looking at the details of the release, October’s rebound was broad-based, with the manufacturing, mining and quarrying and electricity and gas sub-sectors all accelerating.

On a monthly basis, factory output increased 0.5% in seasonally adjusted terms in October, rebounding from September’s 2.8% fall.. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over two-year low of 1.5% in October, down from September’s 1.6%.

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