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Financial News: Malaysia Industrial Production Falls Again; Jobless Rate C

Malaysia Industrial Production Falls Again; Jobless Rate Climbs

01/11/2021 - 05:09:00 (RTTNews)

(RTTNews) - Malaysia's industrial production declined further in November, while the unemployment rate rose, data from the Department of Statistics showed on Monday.

Industrial production fell 2.2 percent year-on-year in November, following a 0.5 percent decrease in October. Economists had expected a 0.2 percent decline.

The drop in production was mainly due to a decline in production of mining industry and electricity.

Manufacturing output rose 2.0 percent yearly in November, after a 2.4 percent increase in the previous month.

Among other sectors, the mining and quarrying output decreased the most. by 15.4 percent and electricity output fell 2.5 percent.

On a monthly basis, industrial production decreased 2.7 percent in November.

Separate data from the statistical office showed that the jobless rate rose to 4.8 percent in November from 4.7 percent in October.

The number of unemployed persons increased to 764,400 in November from 748,200 in the previous month.

The number of employed decreased to 15.20 million in November from 15.21 million in the prior month.

The labor force participation rate fell marginally to 68.4 percent in November from 68.5 percent in October.

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