Malaysia: Industrial production accelerates in February
April 10, 2014
Industrial production expanded 6.8% in February over the same month last year. The figure was up from the 3.6% increase observed in January and beat market expectations of a 6.2% rise. February's acceleration was driven by faster growth in manufacturing and mining, while electricity output registered a sharp contraction.
On a monthly basis, industrial production increased a seasonally-adjusted 1.5% in February, which contrasted the 0.4% contraction that was observed in January. Annual average growth in industrial production jumped from 3.1% in January to 4.1% in February.
FocusEconomics Consensus Forecast panelists project that industrial production will grow 4.6% in 2014, which is unchanged from last month's projection. In 2015, the panel expects industrial output to expand 4.4%.
Author: Carl Kelly, Economist