Malaysia Industrial production January 2020

Malaysia

Malaysia: Industrial production moderates in January

March 13, 2020

Industrial production lost further momentum in January, with growth edging down to 0.6% in annual terms in January from 1.3% in December. The result underwhelmed market expectations of 0.8% growth. Consequently, average growth in industrial output edged down to 2.0% in January from 2.3% in December.

Industrial production was weaker across the board in January. Mining and quarrying output continued to contract in the month, albeit at a softer rate. Moreover, manufacturing production softened and electricity generation stagnated in January.

On a month-on-month seasonally-adjusted basis, industrial production flatlined in January, contrasting the 0.2% decline in December (previously reported: -0.4% month-on-month).

Looking ahead, deteriorating growth prospects in China due to the coronavirus pandemic is likely to depress Malaysia’s already frail industrial sector even further.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 3.2% in 2020, which is down 0.2 percentage points from the previous month’s estimate, and 3.9% in 2021.


Author:, Economist

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Malaysia Industry January 20 20

Note: Annual changes of industrial production index and annual average growth rate in %.
Source: Department of Statistics Malaysia (DSM).


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