Malaysia’s industrial production up 2.4% in May, below forecast

[KUALA LUMPUR] Malaysia’s industrial production index (IPI) rose 2.4 per cent in May from the year before, missing economists’ projections due to weaker mining production, a Department of Statistics Malaysia (DOSM) report indicated on Friday (Jul 12).

The growth, slower than the 6.1 per cent observed in April, also fell short of the 4.2 per cent level forecast by 11 economists in a recent Reuters poll.

The DOSM report showed that industrial production growth was driven by manufacturing and electricity output, offsetting falling mining production.