Industrial Production in Malaysia
Over the past decade to 2022, Malaysia's economy recorded an average industrial production growth rate of 3.5%, below the 4.1% average for the Asia-Pacific region. In 2022, industrial production growth was 6.7%. For more industry information, visit our dedicated page.
Malaysia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Malaysia from 2014 to 2023.
Source: Macrobond.
Malaysia Industry Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 2.4 | -4.1 | 7.4 | 6.9 | 0.7 |
Industrial output records slowest growth since December 2023 in May
Industrial production increased 2.4% year on year in May (April: +6.1% yoy). May's outturn marked the worst reading since December 2023. The weakening was largely driven by a deterioration in manufacturing output growth. In addition, mining and quarrying output weakened. On a seasonally adjusted monthly basis, industrial output rebounded, rising 1.7% in May (April: -0.3% mom s.a.). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 1.4% in May, down from April's 1.6%.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Malaysian industry projections for the next ten years from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Malaysian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Malaysian industry projections.
Want to get access to the full dataset of Malaysian industry forecasts? Send an email to info@focus-economics.com.
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