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Financial News: Malaysia Industrial Production Grows; Jobless Rate Falls

Malaysia Industrial Production Grows; Jobless Rate Falls

11/09/2021 - 01:55:00 (RTTNews)

(RTTNews) - Malaysia's industrial production grew in September and unemployment rate decreased, data from the Department of Statistics showed on Tuesday.

Industrial production rose 2.5 percent year-on-year in September, after a 0.7 percent decrease in August. Economists had expected a 1.9 percent growth.

The growth in production was mainly driven by a rise in production of manufacturing industry and electricity.

Manufacturing output grew 4.0 percent yearly in September, following a 0.6 percent increase in the previous month.

Among other sectors, the mining and quarrying output decreased 3.0 percent, while electricity output grew 0.4 percent.

On a monthly basis, industrial production rose 3.7 percent in September.

Separate data from the statistical office showed that the jobless rate fell to 4.5 percent in September from 4.6 percent in August.

The number of unemployed persons decreased to 729,600 in September from 748,800 in the previous month.

The number of employed rose to 15.46 million from 15.38 million in August

The labor force participation rate fell to 68.6 percent in September from 68.4 percent in the prior month.

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