Malaysia: Industrial production accelerates modestly in December
February 10, 2014
Industrial production expanded 4.8% in December over the same month of the previous year. The figure marked a slight acceleration compared to the 4.4% increase observed in November, but undershot market expectations of a 5.8% rise. December's acceleration was driven by growth in the manufacturing and electricity sectors, while mining output decreased.
On a monthly basis, industrial production decreased a seasonally-adjusted 1.6% in December, which contrasted the 3.6% expansion that was observed in November. However, annual average growth in industrial production increased from 2.7% in November to 2.8% in December.
FocusEconomics Consensus Forecast panelists project that industrial production will grow 4.6% in 2014, which is up 0.2 percentage points from last month's projection. In 2015, the panel expects industrial output to expand 4.8%.
Author: Carl Kelly, Economist