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Financial News: Malaysia Industrial Production Growth Exceeds Forecast

Malaysia Industrial Production Growth Exceeds Forecast

01/10/2018 - 23:36:00 (RTTNews)

(RTTNews) - Malaysia's industrial production growth accelerated at a faster-than-expected pace in November, data from the Department of Statistics showed Wednesday.

Industrial production climbed 5.0 percent year-over-year in November, following a 3.4 percent rise in October. That was also above the 4.6 percent growth economists had forecast.

Among sectors, manufacturing production expanded strongly by 6.7 percent annually in November, while mining sector output registered a moderate increase of 0.2 percent.

Another report from the statistical office showed that manufacturing sales logged an annual growth of 10.9 percent in November after a 11.0 percent spike in October.

Total employees engaged in the manufacturing sector rose 2.3 percent and salaries and wages grew by 9.2 percent.

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