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Malaysia February factory output up 3 pct y/y, below forecast

February’s output growth was slightly below the 3.4 per cent annual rise forecast in a Reuters poll. — Reuters pic
February’s output growth was slightly below the 3.4 per cent annual rise forecast in a Reuters poll. — Reuters pic

KUALA LUMPUR, April 11 — Malaysia’s industrial production rose 3 per cent in February from a year earlier, supported by growth in the manufacturing and electricity generation sectors, government data showed today.

February’s output growth was slightly below the 3.4 per cent annual rise forecast in a Reuters poll.

In January, annual growth was recorded as 3 per cent but it has since been revised to a 5.4 per cent year-on-year rise, after the base year used to calculate the index was changed from 2010 to 2015, the Statistics Department said in a statement.

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

Manufacturing output grew 4.7 per cent from a year earlier in February, while the electricity index was up 2.8 per cent, according to data from the Statistics Department.

Mining output, however, declined 1.6 per cent, the data showed.

On a monthly basis, factory output fell 10. 3 per cent.

Malaysia’s exports had fallen for the first time in 18 months in February, hit by the effects of shorter working days during the Lunar New Year break.

A private manufacturing purchasing managers’ index showed Malaysian factory activity contracted to a five-month low in March, as production and new orders fell. — Reuters

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