Malaysia July factory output up 6.1% y-o-y
KUALA LUMPUR — Malaysia’s industrial production in July expanded at its fastest pace in eight months, government data showed on Monday, boosted by gains in all three major sectors.
Factory output grew 6.1% from a year earlier in July, the fastest since November 2016 and beating the 5.3% annual rise forecast in a Reuters poll.
Industrial output was up 4% in June. July’s factory output was due to strength in the manufacturing, electricity and mining sectors, according to data from the Statistics Department.
Manufacturing output grew 8% from a year earlier in July, boosted by growth in the food, tobacco, and electrical and electronic products subsectors, the data showed. The electricity generation sector rose 7.9% year-on-year, while mining output grew 0.2%.
Malaysia’s exports in July beat economists’ estimates, rising 30.9% from a year earlier, on higher shipments of manufactured products and mining goods.