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Malaysia's July industrial output up 6.1% year on year, well above forecast
[KUALA LUMPUR] Malaysia's July industrial production rose 6.1 per cent from a year earlier, well above market predictions, due to manufacturing and mining sector growth, data from the Statistics Department showed on Thursday.
A Reuters poll of economists had forecast annual industrial output would grow 4.8 per cent. Output in June was 4.3 per cent.
Data from earlier this month showed July's exports rose 3.5 per cent from a year earlier due to an increase in demand for electrical and electronic goods.
Malaysia's manufacturing Purchasing Managers' Index for August, however, charted its lowest readings in nearly three years, holding below 50 at 47.2 as production and purchasing activity declined.