Malaysia: Industrial production accelerates in October
December 11, 2013
Industrial production expanded 1.8% in October over the same month last year. The figure marked an improvement compared to the 1.0% increase observed in September and overshot market expectations of a 0.8% rise. October's acceleration was driven by growth in the electricity and manufacturing sectors, while mining registered a decline.
On a monthly basis, industrial production increased a seasonally-adjusted 1.8% in October, which was down from the 2.2% expansion observed in September. Annual average growth in industrial production decreased from 3.3% in September to 2.9% in October.
FocusEconomics Consensus Forecast panelists project that industrial production will grow 2.8% in 2013, which is unchanged from last month's projection. In 2014, the panel expects industrial output to expand 4.8%, which is also unchanged from last month's forecast.
Author: Carl Kelly, Economist