Malaysia Industrial production November 2017

Malaysia

Malaysia: Industrial production strengthens in November

January 11, 2018

Industrial production expanded 5.0% year-on-year in November, accelerating markedly from October’s 3.4% expansion and coming in slightly above market expectations of 4.6% growth. The robust print suggests that flooding in key manufacturing areas of the country did not derail the economy’s strong performance in the final stretch of 2017.

According to the Statistical Institute, manufacturing production expanded a robust 6.7% from the same month of the previous year in November, the highest rate in three months and above October’s 4.2% rise. All major sub-sectors saw faster rates of output growth compared to the previous month, with petroleum, chemical, rubber and plastic production accelerating the most to a 7.5% expansion in November from 2.1% growth in October. Healthy production growth in the manufacturing sector offset a further moderation in mining production, which saw tepid growth of 0.2% in November (October +0.8% year-on-year).

In month-on-month terms, industrial production rose a seasonally-adjusted 1.8% in November (October: -0.8% month-on-month), putting an end to three consecutive months of month-on-month declines. Despite November’s solid outturn, annual average growth in industrial production slipped from 4.8% in October to 4.7% in November.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.3% in 2018, which is down 0.1 percentage points from last month’s estimate. For 2019, our panelists also see industrial output increasing 4.3%.


Author:, Economist

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Malaysia Industrial production Chart


Malaysia Industry November 2017

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


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