Malaysia: Industrial production decelerates in January
March 14, 2014
Industrial production expanded 3.6% in January over the same month last year. The figure was down from the 4.8% increase observed in December and below market expectations of a 4.2% rise. January's deceleration was driven by slower growth in the manufacturing and electricity sectors, while mining output rebounded. On a monthly basis, industrial production decreased a seasonally-adjusted 0.4% in January, which followed the 1.6% contraction that was observed in December. Annual average growth in industrial production fell from 2.7% in December to 2.6% in January. 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