Malaysia: Industrial output continues to slow in October
December 8, 2011
In October, industrial production grew 2.8% over the same month last year, down slightly from a revised 3.0% increase in September (previously reported: +2.5% year-on-year). However, the print came in above market expectations, which had industrial production expanding only 1.6%. The moderation seen in October was due to slower growth in manufacturing (September: +9.0% yoy; October: +6.2% yoy) and electricity (September: +6.4% yoy; October: +1.9% yoy). Meanwhile, the mining sector continued to drop, but at a softer pace (September: -12.0% yoy: October: -5.7% yoy). Despite the weak outturn seen in October, annual average growth in industrial production remained unchanged at September's 1.6%.