Malaysia’s March industrial production up 2.4%, lower than forecast

[KUALA LUMPUR] Malaysia’s industrial production index (IPI) rose 2.4 per cent in March from the year before, driven by higher output from the mining and electricity sectors, said the Department of Statistics Malaysia (DOSM) on Friday (May 10).

The growth, slower than the 3.1 per cent recorded in February, also fell short of the 2.5 per cent growth forecast by 15 economists in a recent Reuters poll.

A report by DOSM showed that the output from the mining sector accelerated by 4.9 per cent year on year in March, compared to 8.1 per cent on-year growth in February.