Malaysia: Industrial production growth slows in May
July 11, 2013
In May, industrial production expanded 3.4% over the same month last year. The figure was below the 4.7% increase observed in April but above market expectations of a 2.0% increase. The May result mainly reflected a deceleration in manufacturing, as well as in electricity output.
On a monthly basis, industrial production declined a seasonally adjusted 0.2% in May, which contrasted the 3.8% rise observed in April.
As a result of the lower annual reading in May, annual average growth in industrial production fell from 3.5% in April to 3.1% in May. FocusEconomics Consensus Forecast panellists project industrial production to grow 3.9% in 2013, which is unchanged from last month's projection. In 2014, the panel expects industrial output to expand 5.1%.