Malaysia Industrial Output Growth At 15-Month Low

(RTTNews) - Malaysia's industrial production increased at the slowest pace in over a year in December, as growth in both mining and manufacturing output eased along with a fall in electricity production, data from the Department of Statistics showed on Tuesday.

Industrial production grew 3.0 percent year-on-year in December, following a 4.8 percent rise in November. Economists had forecast the growth to moderate to 4.4 percent.

Further, this was the weakest rate of growth since September 2021, whn production had risen only 2.1 percent.

Among the main sectors, the annual growth in manufacturing output also eased to 3.0 percent from 4.8 percent.

Similarly, production in the mining sector advanced at a slower rate of 4.1 percent in December, after a 6.1 percent gain in November.

At the same time, electricity production contracted 1.1 percent, reversing a 0.7 percent rebound in the prior month.

On a monthly basis, industrial production dropped 0.6 percent in December versus 0.9 percent rise in November.

In 2022, overall industrial production expanded 6.9 percent compared to a 7.2 percent growth in 2021.