Malaysia Industrial production May 2021

Malaysia

Malaysia: Industrial output growth eases in May

July 12, 2021

Industrial output growth moderated over the prior month, expanding 26.0% in annual terms in May (April: +50.1% yoy). May’s result largely reflected a softer increase in manufacturing and electricity production. Meanwhile, mining and quarrying output picked up pace.

On a monthly basis, factory output contracted 3.4% in seasonally-adjusted terms in May, contrasting the 0.1% expansion tallied in the previous month. Lastly, the trend improved markedly, with the annual average variation of industrial production coming in at 7.4%, up from April’s 3.4%.

FocusEconomics Consensus Forecast panelists expect industrial output to grow 7.6% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, panelists expect industrial output to expand 5.2%.


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Malaysia Industrial production Chart


Malaysia Industry May 2021

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


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