Malaysia Industrial production January 2021

Malaysia

Malaysia: Industrial output growth moderates in January

March 12, 2021

Industrial output rose 1.2% in year-on-year terms in January, easing from December's 1.7% increase. January's softer expansion was primarily due to a weaker rise in manufacturing production. Meanwhile, electricity and gas output tumbled at a stronger rate.

On a seasonally-adjusted monthly basis factory output declined 0.3% contrasting December’s 2.7% expansion. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 4.3%, up from December's minus 4.4% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to grow 6.6% in 2021, which is up 0.4 percentage points from last month’s forecast. For 2022, panelists expect industrial output to expand 4.5%.


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Malaysia Industrial production Chart


Malaysia Industry January 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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