Malaysia July Industrial Output +6.1% on Year; +4.5% Expected

By Yantoultra Ngui Features Dow Jones Newswires

Malaysia's industrial production grew at a faster-than-expected pace in July, driven by the strong growth in manufacturing and electricity sectors, official data showed Monday.

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The 6.1% rise in the industrial-production index, or IPI, which measures output from mines, factories and power plants, was higher than the median 4.5% growth forecast in a poll of seven economists by The Wall Street Journal. It climbed 4.0% from a year earlier in June.

The seasonally adjusted IPI climbed 1.3% on-month, according to the data from the statistics department.

The industrial production figures follow a faster-than-expected pace of 30.9% growth in July's exports from a year earlier on the back of a jump in shipments across all major export products.

Output from the manufacturing sector grew 8.0% in July, accelerating from June's 4.7% growth, mainly due to higher growth in electrical and electronics products, and food, beverages and tobacco, the data showed.

Electricity output rose by 7.9% in July, faster than an increase of 2.1% in June.

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Output from the mining sector decelerated to a growth of 0.2% in July, from a rise of 2.4% in June, as crude oil output activity fell in that month.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

September 11, 2017 00:14 ET (04:14 GMT)