Malaysia's January factory output rises 1.2% y/y, above forecast

KUALA LUMPUR: Malaysia's industrial production index rose faster than expected in January, expanding 1.2% from a year earlier due to higher manufacturing output, government data showed on Friday.

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

January's expansion beat the 0.7% growth forecast by 10 economists in a Reuters poll, but was slower than the 1.7% rise recorded in December.

Manufacturing output rose 3.5% year-on-year in January, the Statistics Department said in a statement.

Mining and electricity output, however, fell 4.5% and 4.6%, respectively, the data showed.

Malaysia's exports had risen 6.6% from a year earlier in January, buoyed by higher shipments of electrical and electronic goods as well as rubber products, government data had showed last month.