Malaysia's July factory output rises 1.2% y-oy, beats forecast

[KUALA LUMPUR] Malaysia's industrial production index in July rose 1.2 per cent from a year earlier, recovering after four straight months of declines amid the coronavirus crisis, government data showed on Friday.

The index measures factory output from the manufacturing, mining and electricity generation sectors.

Output in July beat the 0.9 per cent annual growth forecast by analysts surveyed by Reuters, and was up from the 0.4 per cent drop in June.

July's increase in the index was driven by growth in the manufacturing sector, which rose 2.9 per cent year-on-year, the Statistics Department said in a statement.

However, mining and electricity output were down 3 per cent and 5.1 per cent, respectively, data from the department showed.

Malaysia's exports rose unexpectedly in July, growing 3.1 per cent from a year earlier on higher shipments of manufactured goods and agricultural commodities.

REUTERS