Malaysia: Industrial output records lowest expansion since August 2021 in January
Industrial output grew 1.8% in year-on-year terms in January, which was a deterioration from December’s 2.8% increase. The outturn marked the lowest reading since August 2021. The slowdown was partly due to a deterioration in manufacturing production growth. In contrast, mining and quarrying output picked up pace.
On a seasonally adjusted monthly basis, industrial output fell at a quicker rate of 2.4% in January (December: -2.0% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 6.5%, down from December’s 6.7%.