Malaysia: Industrial production output picks up pace in October
December 12, 2018
Growth in industrial production accelerated rapidly to 4.2% in October over a year ago, up from 2.3% in September. The result easily beat market expectations of 3.3% growth and was driven by a rebound in mining output, which expanded for the first time since April, and stronger growth in manufacturing output. On the other hand, activity in the electricity sector eased but grew at a robust pace nonetheless.
Industrial output expanded 1.7% over the previous month in October, contrasting the 0.4% contraction in September. Annual average growth in industrial production edged up to 3.2% in October from 3.1% in September.
Malaysia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to rise 3.7% in 2019, which is down 0.3 percentage points from last month’s estimate. For 2020, our panelists see industrial output growing 3.9%.
Author: Jan Lammersen, Economist