KUALA LUMPUR, Malaysia--Malaysia's industrial production grew at a faster-than-expected pace in May, as strong growth in manufacturing and electricity activities offset decline from mining, official data showed Wednesday.
The 4.6% rise in the industrial-production index, or IPI, which measures output from mines, factories and power plants, was faster than the median 4.1% growth that had been expected by nine economists polled by The Wall Street Journal. It was also stronger than April's 4.2% growth.
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The seasonally adjusted IPI grew 0.7% sequentially, according to the data from the statistics department.
The figures followed higher-than-expected exports growth in May of 32.5% from a year earlier--the strongest expansion in more than seven years--on shipments of electrical and electronic products, palm oil and crude petroleum.
Output from the important manufacturing sector grew 7.3% in May, faster than April's 6.7% growth, driven mainly by gains in electrical and electronics products, and food, beverages and tobacco, data showed.
Electricity output increased by 2.5% in May, a reversal from a contraction of 1.5% in April.
Output from the mining sector, which includes oil and gas, fell by 2.3% in May, extending April's 2.0% decline, mainly because of a decline in crude production.
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(END) Dow Jones Newswires
July 12, 2017 00:37 ET (04:37 GMT)