Malaysian Industrial Output Grows 2.7%, Most In 5 Months

(RTTNews) - Malaysia's industrial production expanded at the fastest pace in five months in October after falling in the previous two months, data from the Department of Statistics showed on Monday.

Industrial production advanced 2.7 percent year-on-year in October, reversing a 0.5 percent rise in September.

Further, this was the quickest rate of growth since May, when production had risen 4.8 percent.

The recovery in October was largely driven by an 8.7 percent rebound in manufacturing sector output, which was the strongest increase since September 2022.

The strong growth in the mining segment was attributed to more production of crude oil, condensate, and natural gas.

The electricity output also logged a sharp increase of 5.8 percent, while manufacturing production showed a smaller rise of 0.9 percent.

On a monthly basis, industrial production climbed 2.2 percent in October, compared to a 1.1 percent gain in the preceding month.

Separate official data showed that manufacturing sales fell 1.4 percent annually in October, slower than the 2.4 percent drop in September.

The decrease was predominantly influenced by the persistent ecline in the petroleum, chemical, rubber, and plastic products sub-sector by 9.5 percent, the agency said.