Thailand
Malaysia: Industrial output 4.2% higher, beating forecast
PETALING JAYA: Malaysia’s industrial output rose by a stronger-than-expected 4.2% in October, exceeding a Bloomberg survey of 3%.
The Statistics Department said the industrial production index’s (IPI) increase by 4.2% from a year ago was supported by increase in all indices.
Manufacturing output rose by 5.4%, while electricity (2.1%) and mining (1.4%).
“On a yearly basis, the manufacturing sector index increased by 5.4% in October 2018 after recording a growth of 4.8% in September 2018,” it said in a statement.
The department said the main sub-sectors which powered the growth in October were: transport equipment and other manufactured products (10.1%); electrical and electronic products (7.1%) and petroleum, chemical, rubber and plastic products (4.1%).
The mining sector index recorded an increase of 1.4% in October 2018 from a year ago.
The increase was contributed by the growth in natural gas index (2.3%) and crude oil index (0.4%).
The electricity sector index increased by 2.1% in October 2018 from a year ago.
In a report yesterday, RHB Research noted that the country’s October Industrial Production Index (IPI) growth had picked up to its third-strongest level this year.
I said overall, industrial activities should recover somewhat in 4Q18 on a recovery in export growth.
However, the research house expects Malaysia’s economy to grow at a slower pace of 4.8% in 2018 and 4.6% for 2019 versus 2017’s +5.9%, as the global environment turns more challenging amidst rising trade protectionism and interest rates.
Source: https://www.thestar.com.my/business/business-news/2018/12/13/industrial-output-42-higher-beating-forecast/#zco3PpEiRRtxxx7a.99