Malaysia: Industrial production decelerates in March
May 12, 2014
Industrial production expanded 4.4% in March over the same month last year. The figure was down from the 6.7% increase observed in February, but beat market expectations of a 3.7% rise. March's deceleration was driven by slower growth in the manufacturing and electricity sectors.
On a monthly basis, industrial production decreased a seasonally-adjusted 0.2% in March, which contrasted the 1.5% expansion that was observed in February. Annual average growth in industrial production increased from 4.3% in February to 4.6% in March, which marked the highest reading in three years.
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