Friday 29 Mar 2024
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KUALA LUMPUR (May 11): Malaysia's industrial output, as measured by the industrial production index, rose 6.9% in March from a year earlier on higher manufacturing, mining and electricity output.

In a statement today, the Statistics Department said manufacturing and mining output increased 6.3% and 9.2% respectively while electricity production climbed 3.8%.

"The mining sector output registered a strong growth of 9.2% in March 2015 compared to the same month in 2014.

"This growth was contributed by the increase of crude oil index by 20.3%. The natural gas index, however, declined by 2.4%," the department said.

In monthly terms, March IPI rose 0.6%. Cumulative first-quarter IPI expanded 6.4% from a year earlier.

In February, the IPI rose 5.2% from a year earlier.

The March on-year 6.9% IPI growth had beaten market forecast, based on a Reuters survey. Earlier, Reuters reported that Malaysia's industrial production in March probably grew at a slower pace of 4.5% from a year earlier, a third month of slower growth.

The slower pace was attributed to lower energy prices hurting production in the mining sector.

However, economists expect production to be supported by the manufacturing sector as exports in March showed a jump in shipments of electrical and electronics goods.

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