Malaysia: Industrial output growth accelerates
January 10, 2011
In November, industrial production rose 5.1% over the same month the previous year. The reading came in below market expectations of a 5.5% expansion but represented an improvement over the weak 3.1% increase tallied in October (previously reported: +3.0% year-on-year), which represented the slowest pace of expansion since November 2009. The improvement was mostly driven by developments in the manufacturing sector, which expanded 6.5% (October: +4.7% yoy). Moreover, output in the mining sector increased 1.7% annually, which contrasted the 1.1% contraction recorded in October. Finally, electricity generation continued to expand strongly rising 5.2%, up from a 4.9% increase in October. The trend in industrial production continues to point upwards, with annual average growth rising from 7.3% in October to 7.8% in November.
Author: Armando Ciccarelli, Head of Data Solutions