Malaysia: Industrial output weakens in September
Industrial output rose 1.7% in annual terms in September, matching August’s revised increase (previously reported: +1.9% year-on-year), and missing market expectations of 1.9% growth. Meanwhile, annual average growth in industrial output edged down to 2.8% from 2.9%.
Moderating industrial production came on the back of a slowdown in manufacturing output due to limp demand for electrical and electronics products, while mining and quarrying production contracted in the month on falling crude oil supply. On the upside, electricity and gas generation growth accelerated in September.
On a month-on-month seasonally adjusted basis, industrial production fell 0.3% in September, following the revised 0.8% decline in August.