Malaysia: Industrial production decelerates to year-and-a-half low in July
September 11, 2014
Industrial production increased 0.5% in July over the same month last year. The figure was well below the 6.9% increase observed in June and market expectations of a 4.3% rise. July’s result marked the lowest growth since February of last year. The deceleration was driven by slower growth in the manufacturing and electricity sectors as well as a large contraction in mining.
On a monthly basis, industrial production decreased a seasonally-adjusted 3.8% in July, which contrasted the 0.6% increase that was observed in June. Annual average growth in industrial production decreased from 4.8% in June to 3.9% in July, which represented the lowest level since January of this year.
Author: Carl Kelly, Economist