Malaysia industrial production rises in September, marginally misses forecast

Industrial production in Malaysia rose during the month of September, marginally missing what markets had initially anticipated. Manufacturing and electricity output in September rose from a year earlier but at a slower pace than the previous month.

Malaysia's September industrial production rose 3.2 percent from a year earlier, helped by strength in the manufacturing and electricity sectors, data released by Malaysia’s Department of Statistics showed Friday. Factory output grew at a slower pace than the 4.9 percent growth in August, and was slightly below economists' expectations of a 3.3 percent rise.

Mining output declined marginally by 0.1 percent. Malaysia's exports in September had fallen more than expected, hurt by weak oil prices and a slump in demand for manufactured goods.  

A private manufacturing purchasing managers' index showed Malaysian factory activity in October contracted to its lowest reading since June, with new orders declining at the sharpest rate since November 2015.

Meanwhile, in another report, the statistical office revealed that the manufacturing sales value rose 1.1 percent in September from a year ago. Total employees engaged in manufacturing sector increased 0.2 percent and salaries and wages climbed by 7.5 percent.