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Malaysia's August factory output rises 0.3% on-year, above forecast

Malaysia's August factory output rises 0.3% on-year, above forecast

File photo. (Photo: AFP/Mohd Rasfan)

KUALA LUMPUR: Malaysia's industrial production index in August rose 0.3 per cent from a year earlier, the second straight month of positive growth although at a slower pace compared to July, government data showed on Monday (Oct 12).

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

Output in August was marginally higher than the 0.1 per cent annual growth forecast by analysts surveyed by Reuters, but notably lower than the 1.2 per cent rise in July.

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August's increase in the index was driven by growth in the manufacturing sector, which rose 2.4 per cent year-on-year, the Statistics Department said in a statement.

Mining and electricity output were down 6.7 per cent and 1.2 per cent, respectively, data from the department showed.

Malaysia's exports fell 2.9 per cent in August, on weak demand for its manufacturing, agriculture and mining goods. 

Source: Reuters/kv

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