Malaysia: Industrial output drops most in nearly two years in February
April 11, 2013
In February, industrial production fell 4.5% over the same month last year, the steepest decline observed since May 2011, as production was affected by the Lunar New Year holidays in the region. The drop contrasted the 4.6% rise tallied in January and overshot market expectations, which had industrial production falling 2.5%. The decline was broad-based, as all three main sub-categories deteriorated over the previous month.
On a monthly basis, industrial production contracted a seasonally adjusted 1.2% in February, which followed the 0.3% drop observed in January.
FocusEconomics Consensus Forecast panellists project industrial production to grow 4.2% in 2013, which is up 0.4 percentage points from last month's projection. In 2014, the panel expects industrial output to expand 5.1%.