Malaysia August factory output up 6.8% y-o-y

A worker adjusts the netting on a lorry carrying palm oil fruits inside a palm oil factory in Sepang, outside Kuala Lumpur June 18, 2014. (Reuters file photo)

KUALA LUMPUR: Malaysia’s industrial production in August expanded at its fastest pace since March 2015 and above industry expectations, supported by strong growth across all sectors.

Factory output grew 6.8% from a year earlier in August, above the 5.9% annual rise forecast in a Reuters poll. Industrial output was up 6.1% in July.

Factory output in August was supported by strength in the manufacturing, electricity and mining sectors, according to data from the Statistics Department.

Manufacturing output grew 7.6% in August from a year earlier, boosted by growth in the subsectors of food and tobacco, electrical and electronic products, and petroleum and chemical products, the data showed.

The electricity generation sector rose 3.0% year-on-year, while mining output grew 5.3%. 

Malaysia’s exports in August rose 21.5% from a year earlier, beating expectations on better manufacturing sector and liquefied natural gas exports.

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