Malaysia: Industrial production slows in September on mining output
November 11, 2013
Industrial production expanded 0.9% in September over the same month last year. The figure marked a decrease compared to the 2.3% increase observed in August and undershot market expectations of a 2.5% rise. September's slowdown was driven by a substantial contraction in mining output, while the manufacturing and electricity sectors registered positive growth.
On a monthly basis, industrial production increased a seasonally-adjusted 2.2% in September, contrasting the 4.2% contraction observed in August.
Annual average growth in industrial production decreased from 3.6% in August to 3.3% in September. FocusEconomics Consensus Forecast panelists project that industrial production will grow 3.3% in 2013, which is down 0.1 percentage points from last month's projection. In 2014, the panel expects industrial output to expand 4.9%, which is also down 0.1 percentage points from last month's forecast.
Author: Carl Kelly, Economist