Malaysia: Industrial production growth picks up in May
July 12, 2017
Industrial production grew 4.6% in May from the same month of 2016, above April’s 4.1% increase. The figure beat market expectations of a softer 4.0% increase. According to the Department of Statistics Malaysia, May’s acceleration was mainly the result of faster growth in the manufacturing sector. In addition, electricity production rebounded, while mining output contracted at a more pronounced pace.
On a monthly basis, industrial production increased a seasonally-adjusted 0.6% in May, contrasting April’s 0.1% fall. Meanwhile, annual average growth in industrial production edged up to 4.5% from April’s 4.3%.