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Financial News: Malaysia Industrial Production Growth Slows In February

Malaysia Industrial Production Growth Slows In February

04/11/2018 - 01:05:00 (RTTNews)

(RTTNews) - Malaysia's industrial production growth eased at a faster-than-expected pace in February, preliminary figures from the Philippine Statistical Authority showed Wednesday.

Industrial production climbed 3.0 percent year-over-year in February, slower than the 5.4 percent rise in January. Economists had expected the growth to ease to 3.1 percent.

Among sectors, manufacturing production grew 4.7 percent annually in February, while mining output dropped by 1.6 percent.

On a monthly basis, industrial production fell a seasonally adjusted 4.4 percent in February, reversing a 5.2 percent increase in the previous month.

Another report from the statistical office showed that manufacturing sales rose 4.9 percent yearly in February, much slower than January's 10.8 percent spike.

Total employees engaged in manufacturing rose 2.2 percent or 22,900 from previous year. At the same time, salaries and wages paid climbed 16.7 percent in February.

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