Malaysia: Industrial output growth picks up in August
Industrial output increased 1.9% year-on-year in August, up slightly from July’s five-year low of 1.2% growth, but just shy of market expectations of a 2.0% expansion. Meanwhile, annual average growth in industrial output was stable at 2.9%.
Stronger factory output in August was driven by a solid rebound in manufacturing production, while electricity and gas generation also recovered in the month. Conversely, mining output contracted again.
On a month-on-month basis, industrial production dipped 0.9% in August, following the 0.4% decline registered in July.