Malaysia’s Oct factory output up 4.2 pc y/y, above forecast

Madiha Shakeel December 12, 2018

KUALA LUMPUR:  Malaysia’s industrial production index rose 4.2 percent in October from a year earlier, faster than the previous month, supported by strength in manufacturing and a rebound in the mining sector, government data showed on Wednesday.

October’s output growth was above the 3.3 percent annual rise forecast in a Reuters poll, and was up from the 2.3 percent expansion in September.

The index measures output from the manufacturing, electricity generation and mining sectors.

Growth was supported by an increase in all indexes tracked, led by a 5.4 percent annual rise in the manufacturing sector, data from the Department of Statistics showed.

The electricity sector index grew 2.1 percent from a year earlier while mining expanded 1.4 percent, snapping a five-month streak of declining growth.

Malaysia’s exports surged in October, rising 17.7 percent from a year earlier, amid strong demand from China and higher shipments of manufactured and mining goods.

Copyright Reuters, 2018

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