Malaysia: Industrial production growth accelerates in August
October 12, 2017
Industrial production expanded a robust 6.8% in August in annual terms, accelerating from 6.1% growth in July. The figure beat market expectations of a softer 5.3% increase. According to the Department of Statistics Malaysia, the main contributor to August’s acceleration was strong growth in the mining sector. The manufacturing sector moderated slightly from its over three-year high in July, but still posted a strong expansion nonetheless, while the electricity sector moderated significantly.
On a month-on-month basis, industrial production contracted a seasonally-adjusted 0.1% in August (July: +1.4% month-on-month). Meanwhile, annual average growth in industrial production edged up to 4.7% from 4.6% in July.
Author: Lindsey Ice, Economist