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Malaysia's June industrial output up 4 pct

Source: XinhuaNet    Time:2017-08-11 08:48:34

KUALA LUMPUR, Aug. 10 (Xinhua) -- Malaysia's industrial output rose 4 percent in June, the official data showed Thursday.
According to the department of statistics Malaysia, the Index of Industrial Production (IPI) in June grew by 4 percent year-on-year, supported by the growth of manufacturing sector, which increased by 4.7 percent year-on-year.
The growth in manufacturing sector, however, slowed down from a strong growth of 7.3 percent in May.
Meanwhile, mining sector output in June went up 2.4 percent when compared with a contraction of 2.3 percent in May.
This was underpinned by a 0.7 percent increase in the index for crude oil and 4.4 percent in the index for natural gas.
Electricity output grew at 2.1 percent, slightly slower than 2.5 percent in May.
The major sub-sectors which recorded an expansion in June were electrical and electronics products which surged 8.3 percent; food, beverages and tobacco that rose 6.7 percent; and petroleum, chemical, rubber and plastic products which increased by 2.8 percent.
TA Securities chief economist Shazma Juliana told Xinhua that base effect played some role in June's softer growth as IPI posted a strong growth of 5.2 percent in June last year.
She maintained her full year IPI forecast at 3.6 percent, with manufacturing, mining and electricity output growing by 5.1 percent, 2.8 percent and 0.9 percent year-on-year, respectively. The country's IPI grew at 3.8 percent last year.
"A slower production growth is expected in the second half, probably dominated by the base factor and softer demand," she added.

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