Malaysia May factory output rises 4% y-o-y, beats forecast

KUALA LUMPUR (July 12): Malaysia’s industrial production index rose 4% in May from a year earlier, matching the pace of the previous month, buoyed by gains in all major sectors, government data showed on Friday.

May’s annual output growth beat the 3.5% expansion forecast by economists in a Reuters poll.

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

Manufacturing output rose 4.2% from a year earlier in May, data from the Statistics Department showed.

The electricity generation index grew 5.7% year-on-year, while mining output was up 3%, the data showed.

Malaysia’s exports had risen in May amid a surge in agricultural shipments, particularly palm oil.

Source: TheEdgeMarkets