Malaysia: Industrial production moderates in January
March 10, 2011
In January, industrial output increased 1.0% over the same month last year, falling short of market expectations of 1.2% and coming in below December's 4.2% expansion. The slowdown was mainly due to a base effect, as industrial output had jumped by 13.8% in the same month last year. On a month-on-month basis, industrial production rose a non-seasonally adjusted 0.64% (December: +2.43% month-on-month), supported by mining (+1.58% mom) and a lesser than extent manufacturing (+0.35% mom), which accounts for nearly two thirds of total industrial output. Owing to the moderate reading, the trend deteriorated in January, with the annual average growth rate falling from 7.5% in December to 6.4%.