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Malaysia's October factory output up 4.2% y-o-y, above forecast
[KUALA LUMPUR] Malaysia's industrial production index rose 4.2 per cent in October from a year earlier, faster than the previous month, supported by strength in manufacturing and a rebound in the mining sector, government data showed on Wednesday.
October's output growth was above the 3.3 per cent annual rise forecast in a Reuters poll, and was up from the 2.3 per cent expansion in September.
The index measures output from the manufacturing, electricity generation and mining sectors.
Growth was supported by an increase in all indexes tracked, led by a 5.4 per cent annual rise in the manufacturing sector, data from the Department of Statistics showed.
The electricity sector index grew 2.1 per cent from a year earlier while mining expanded 1.4 per cent, snapping a five-month streak of declining growth.
Malaysia's exports surged in October, rising 17.7 per cent from a year earlier, amid strong demand from China and higher shipments of manufactured and mining goods.