Malaysia’s industrial production growth eased more than expected in August, data from the Department of Statistics showed Monday.
Industrial production advanced 3 percent year-on-year in August, while it was forecast to grow 4 percent after rising 6.1 percent in July.
The annual growth was supported by a 4.3 percent increase in manufacturing and a 15.9 percent rise in electricity, while mining output slid 3.4 percent.
Month-on-month, industrial output dropped 0.9 percent due to a sharp contraction in mining. Manufacturing gained 1.9 percent and electricity output surged 19.8 percent. On the other hand, mining plunged 10.2 percent.
During January to August, industrial output increased 5.1 percent from the corresponding period of last year.
The manufacturing sector sales increased 0.8 percent in August from a year ago, another report from the statistical office showed. On a seasonally adjusted basis, the sales value climbed 3.6 percent from the previous month.
The material has been provided by InstaForex Company – www.instaforex.com