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Malaysia's August factory output up 6.8% y/y, strongest in 2-1/2 yrs
[KUALA LUMPUR] Malaysia's industrial production in August expanded at its fastest pace since March 2015 and above industry expectations, supported by strong growth across all sectors.
Factory output grew 6.8 per cent from a year earlier in August, above the 5.9 per cent annual rise forecast in a Reuters poll.
Industrial output was up 6.1 per cent in July.
Factory output in August was supported by strength in the manufacturing, electricity and mining sectors, according to data from the Statistics Department.
Manufacturing output grew 7.6 per cent in August from a year earlier, boosted by growth in the subsectors of food and tobacco, electrical and electronic products, and petroleum and chemical products, the data showed.
The electricity generation sector rose 3.0 per cent year-on-year, while mining output grew 5.3 per cent.
Malaysia's exports in August rose 21.5 per cent from a year earlier, beating expectations on better manufacturing sector and liquefied natural gas exports.