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Financial News: Malaysia Industrial Production Growth Slows In December

Malaysia Industrial Production Growth Slows In December

02/06/2020 - 23:51:00 (RTTNews)

(RTTNews) - Malaysia's industrial production grew at a softer pace in December driven by a fall in mining, data from the Department of Statistics showed on Friday.

Industrial production climbed 1.3 percent year-on-year in December, after a 2.1 percent increase in November.

Manufacturing output grew 3.4 percent in December, following a 2.7 percent rise in the previous month.

Among other sectors, electricity output gained 0.9 percent annually in November, while mining and quarrying output declined 4.9 percent.

On a monthly basis, industrial production decreased 0.4 percent in December, in contrast to a 1.8 percent increase in the previous month.

Separate data from the statistical office showed that the jobless rate rose to 3.3 percent in December from 3.2 percent in November. A similar rate of unemployment was seen in the same month last year.

On a seasonally adjusted basis, the unemployment rate remained at 3.3 percent in December.

The number of unemployed persons increased to 517,000 in December from 513,900 in the preceding month.

The labor participation rate increased marginally to 68.9 percent in December from 68.8 in the prior month.

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