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Financial News: Malaysia Industrial Production Growth Slows In May

Malaysia Industrial Production Growth Slows In May

07/12/2021 - 02:33:00 (RTTNews)

(RTTNews) - Malaysia's industrial production grew at a softer pace in May, data from the Department of Statistics showed on Monday.

Industrial production rose 26.0 percent year-on-year in May, after a 50.1 percent increase in April. Economists had expected a 46.1 percent rise.

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

Manufacturing output increased 29.8 percent yearly in May, after a 68.0 percent increase in the previous month.

Among other sectors, the mining and quarrying output gained 20.7 percent and electricity output grew 7.9 percent.

On a monthly basis, industrial production fell 0.3 percent in May.

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