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Financial News: Malaysia Industrial Production Growth Accelerates

Malaysia Industrial Production Growth Accelerates

10/11/2019 - 02:07:00 (RTTNews)

(RTTNews) - Malaysia's industrial production grew at a faster pace in August, data from the Department of Statistics showed on Friday.

Industrial production rose 1.9 percent year-on-year in August, following a 1.2 percent rise in July. Economists had expected production to rise 2.0 percent.

Manufacturing output growth slowed to 3.7 percent from 4.0 percent in the previous month.

Among other sectors, mining and quarrying output dropped 3.9 percent annually in August, while electricity output gained 0.3 percent.

On a monthly basis, industrial production rose 0.9 percent in August, reversing a 0.4 percent decrease in the previous month.

Separate data from the Department of Statistics showed that the jobless rate remained unchanged at 3.3 percent in August.

The number of unemployed persons rose to 520,200 in August from 524,800 persons in the prior month.

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