Malaysia January factory output up 3pc y-o-y, sharply below forecast

Factory output grew 3 per cent from a year earlier in January, well below the 7.1 per cent annual rise forecast in a Reuters poll. — Reuters pic
Factory output grew 3 per cent from a year earlier in January, well below the 7.1 per cent annual rise forecast in a Reuters poll. — Reuters pic

KUALA LUMPUR, March 13 — Malaysia’s industrial production in January expanded at a pace sharply below expectations, as growth slowed in the manufacturing sector, government data showed today.

Factory output grew 3 per cent from a year earlier in January, well below the 7.1 per cent annual rise forecast in a Reuters poll. Industrial output was up 2.9 per cent in December.

Manufacturing output grew by 4.8 per cent year-on-year in January, compared with 5.3 per cent in the previous month, according to data from the Statistics Department.

The electricity generation sector rose 4.3 per cent annually, while mining output grew 1.5 per cent, the data showed.

On a monthly basis, factory output fell 4.5 per cent.

Malaysia’s exports jumped 17.9 per cent in January from a year earlier, surging after two months of slower growth, on the back of higher demand for manufactured goods and commodities.

However, a private manufacturing purchasing managers’ index showed Malaysian factory activity contracted in February, on a decline in new orders. — Reuters

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