Malaysia: Industrial production slows in March
May 11, 2011
In March, industrial production grew 2.4% over the same month last year, which represented the 16th consecutive month of expansion. The print was below the revised 5.2% increase recorded in February (previously reported: +5.0% year-on-year) and fell short of expectations that had seen industrial output expanding 3.4%. The slowdown over the previous month was the result of a lower reading for manufacturing, which accounts for nearly two thirds of total output. Negative readings for mining and, to a lesser than extent, electricity also contributed to the deceleration. Owing to the more subdued March outturn, the annual average growth in industrial production slowed to 5.4% from February's 6.4%.