News Room - Business/Economics

Posted on 12 Feb 2016

Industrial output higher in December

Malaysia’s December industrial production rose 2.7% from a year earlier due to positive growth in the manufacturing and electricity production sector, government data showed yesterday.

The figure was well above the median forecast of 0.8% from a Reuters poll of economists.

But mining sector output fell by 1.5% in December compared to the same month in 2014 due to the decrease in the natural gas index and crude oil index, the data showed.

Output growth in November slipped to 1.8% year-on-year, as global demand weakened and mining production declined.

Exports in December grew 1.4% from a year earlier, well below market expectations, due to slumping demand for the country’s commodities.

A private manufacturing purchasing managers’ index showed factory activity in Malaysia contracted for the 10th straight month in January, though at a weaker rate than in December. The index averaged 48.6, its highest reading since May 2015.