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