Financial News: Malaysia Industrial Output Growth At 15-Month Low

Malaysia Industrial Output Growth At 15-Month Low

02/07/2023 - 03:36:00 (RTTNews)

(RTTNews) - Malaysia's industrial production increased at the slowest pace in over a year in December, as growth in both mining and manufacturing output eased along with a fall in electricity production, data from the Department of Statistics showed on Tuesday.

Industrial production grew 3.0 percent year-on-year in December, following a 4.8 percent rise in November. Economists had forecast the growth to moderate to 4.4 percent.

Further, this was the weakest rate of growth since September 2021, whn production had risen only 2.1 percent.

Among the main sectors, the annual growth in manufacturing output also eased to 3.0 percent from 4.8 percent.

Similarly, production in the mining sector advanced at a slower rate of 4.1 percent in December, after a 6.1 percent gain in November.

At the same time, electricity production contracted 1.1 percent, reversing a 0.7 percent rebound in the prior month.

On a monthly basis, industrial production dropped 0.6 percent in December versus 0.9 percent rise in November.

In 2022, overall industrial production expanded 6.9 percent compared to a 7.2 percent growth in 2021.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Taiwan Export Orders Continue To Fall In February (23 min(s), 20 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (02 hr(s), 20 min(s), 20 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (03 hr(s), 47 min(s), 20 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (04 hr(s), 27 min(s), 20 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (04 hr(s), 46 min(s), 20 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»

China Loan Prime Rate Due On Monday (27 min(s), 40 sec(s) ago)
(RTTNews) - The People's Bank of China will announce its latest loan prime rate numbers, highl ...Full Story»

U.S. Consumer Sentiment Unexpectedly Drops In March, Inflation Expectations Dip (08 min(s), 40 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. fell for the first time in four months in March, accord ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged At 7.50% (02 min(s), 40 sec(s) ago)
(RTTNews) - Russia's central bank decided to keep its key interest rate unchanged for the four ...Full Story»