Malaysia Industrial production July 2019

Malaysia

Malaysia: Industrial output growth slows to five-year low in July

September 11, 2019

Industrial output increased 1.2% over the same month a year prior in July, down from the 3.9% rise recorded in June, marking a five-year low and missing market expectations of 3.5% growth.

A weaker performance in July was chiefly due to a sharp contraction in mining and quarrying output as crude oil production and weaker natural gas output weighed heavily on the sector. Nevertheless, manufacturing production and electricity and gas supply picked up in the month.

On a month-on-month basis, industrial production dipped 0.4% in July, following the 1.1% decline registered in June. Meanwhile, annual average growth in industrial output edged down to 2.9% from 3.1%.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 3.2% in 2019, which is down 0.1 percentage points from the previous month’s estimate, and 3.5% in 2020.


Author:, Economist

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Malaysia Industry July 2019

Note: Annual changes of industrial production index and annual average growth rate in %.
Source: Department of Statistics Malaysia (DSM).


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