Malaysia: Industrial production accelerates, exceeds expectations
September 11, 2013
Industrial production expanded 7.6% in July over the same month last year. The figure marked an increase over the 3.3% increase observed in June and beat market expectations of a 4.9% rise. June's expansion, which is the highest in 14 months, mainly reflects growth in manufacturing and in mining output.
On a monthly basis, industrial production rose a seasonally-adjusted 1.9% in July, following the 0.5% rise observed in June.
Annual average growth in industrial production also increased from 3.0% in June to 3.4% in July. FocusEconomics Consensus Forecast panelists project that industrial production will grow 3.6% in 2013, which is down 0.3 percentage points from last month's projection. In 2014, the panel expects industrial output to expand 5.0%.
Author: Carl Kelly, Economist