Malaysia: Industrial output bounces back in February
April 11, 2011
In February, industrial production grew 5.0% over the same month last year, which represented the 15th consecutive month of expansion. The print was well above the revised 0.5% increase recorded at the outset of 2011 (previously reported: +1.0% year-on-year), but fell short of expectations that had production expanding 5.7%. The acceleration was the result of faster growth in manufacturing, along with an improvement in mining output. Manufacturing, which accounts for nearly two thirds of total output, expanded 7.9% over the same month last year (January: +4.5% yoy), while the mining sector declined at a slower pace, dropping 0.7% in February (January: -6.7% yoy). Meanwhile, electricity generation grew 0.7% (January: +0.3% yoy). Despite the strong February reading, the annual average growth in industrial production remained unchanged over January's figure of 6.4%.