Malaysia Industrial production February 2021

Malaysia

Malaysia: Industrial output rises at quickest pace in 10 months in February

April 9, 2021

Industrial output grew 1.5% in year-on-year terms in February, which was above January's 1.2% increase. Looking at the details of the release, February’s upturn was chiefly driven by a pick-up in manufacturing output growth. Meanwhile, mining and quarrying and electricity and gas output both fell at a stronger clip than in January.

On a seasonally-adjusted monthly basis, factory output rebounded, rising 6.3% in February (January: -0.3% s.a. mom), the best result since June 2020. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.7%, down from January's minus 4.3% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to grow 6.7% in 2021, which is up 0.1 percentage points from last month’s forecast. For 2022, panelists expect industrial output to expand 4.7%.


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Malaysia Industrial production Chart


Malaysia Industry February 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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