Malaysia: Industrial production slows, undershoots expectations
October 10, 2013
Industrial production expanded 2.3% in August over the same month last year. The figure marked a decrease compared to the 7.6% increase observed in July and greatly undershot market expectations of a 7.5% rise. August's slowdown was driven by a substantial contraction in mining output, although the manufacturing and electricity sectors registered positive growth.
On a monthly basis, industrial production fell a seasonally-adjusted 4.6% in August, following the 1.8% rise observed in July.
Annual average growth in industrial production increased slightly from 3.5% in July to 3.6% in August. FocusEconomics Consensus Forecast panelists project that industrial production will grow 3.4% in 2013, which is unchanged from last month's projection. In 2014, the panel expects industrial output to expand 5.0%, which is unchanged from last month's forecast.
Author: Carl Kelly, Economist