Malaysia: Industrial production growth slows in June
August 10, 2017
Industrial production grew 4.0% in June from the same month of 2016, below May’s 4.6% increase. The figure beat market expectations of a softer 3.0% increase. According to the Department of Statistics Malaysia, June’s deceleration was mainly the result of slower growth in the manufacturing sector and of electricity production. However, mining output rebounded from May’s contraction.
On a monthly basis, industrial production increased a seasonally-adjusted 1.9% in June, above May’s 0.6% rise. Meanwhile, annual average growth in industrial production edged down to 4.4% from May’s 4.5%.