Malaysia's industrial production jumps on expansion in electricity, mining output

Malaysia’s industrial production accelerated in the month of April due to a sharp expansion in electricity production. An increase in mining output also contributed to the rise in monthly production. However, the figures stayed below the analysts’ expectations.

Industrial production climbed 3.0 percent year-over-year in April, faster than the 2.8 percent gain in the previous month, missing market expectations of 3.5 percent, preliminary data released by the Department of Statistics showed on Friday.

Further, production in the manufacturing sector on an annual basis rose 3.3 percent in April as compared to the corresponding period a year ago. Electricity production registered a sharp rise of 9.4 percent while mining output rose a nominal 0.6 percent.

Moreover, the statistical office announced that manufacturing sales value dropped 1.2 percent yearly to MYR 52.3 billion in April from MYR 52.9 billion in the same month of 2015.

Meanwhile, salaries and wages paid in April grew by 6.0 percent to MYR 3.1 billion. At the same time, productivity decreased 0.4 percent as compared to the corresponding period last year.