Malaysia: Industrial production continues to gain momentum in October
December 11, 2012
In October, industrial production expanded 5.8% over the same month the previous year. The print followed the 5.0% rise tallied in September and marked, in fact, the largest increase in five months. In addition, the reading overshot market expectations, which had industrial output rising 2.3%. The improvement seen in October was mainly due to an acceleration in manufacturing output as well as in the mining sector. On the other hand, electricity production slowed in October.
A month-on-month analysis does not corroborate the improvement suggested by the annual figures, as industrial production expanded only 0.6% in seasonally adjusted terms, a fraction of the 6.3% rise tallied in September.
Owing to the monthly increase, the trend continues to point upwards, with annual average growth in industrial production rising from 3.3% in September to 3.6% in October.