Malaysia: Industrial output growth ticks down in June
Industrial output increased 3.9% year-on-year in June, down slightly from May’s 4.0% increase and missing analysts’ expectations of a 4.1% rise. June’s expansion was driven by stronger mining and quarrying, manufacturing and electricity output. Mining and quarrying rose on the back of increased natural gas output, which was partially offset by a contraction in crude oil production.
On a month-on-month basis, industrial production dipped 1.1% in June, down from May’s 0.3% drop. Meanwhile, annual average growth in industrial output edged up to 3.1% in June from 2.9% in May.