Update Malaysian Dec industrial output up 4.8% y-o-y

by **Cals** Mon 10 Feb 2014, 13:26

Update Malaysian Dec industrial output up 4.8% y-o-y

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Monday, 10 February 2014 12:54

KUALA LUMPUR (Feb 10): Malaysia's industrial production index (IPI) rose 4.8% in December 2013 from a year earlier. Growth came on higher manufacturing and electricity output which mitigated the impact of lower mining production.

In a statement today, the Statistics Department said the IPI's manufacturing and electricity components rose 6.7% and 6% respectively. Mining output, however, fell 0.8%

"On a yearly basis, manufacturing output increased by 6.7% in December 2013 following an increase of 4.4% (revised) in November 2013. The major sub-sectors which registered increases in December 2013 were petroleum, chemical, rubber and plastic products (4.9%); electrical and electronics products (6.9%); transport equipment and other manufactures (27.7%).

"The output for mining sector in December 2013 decreased by 0.8% year-on-year (y-o-y) following an increase of 1.3% (revised) in November 2013. The decrease in mining sector was led by the decline in the crude oil index (6.2%). Meanwhile, natural gas index increased by 11.1%," the department said.

In monthly terms, the December 2013 IPI however fell 1.1% from November 2013.

The IPI's December 2013 y-o-y growth of 4.8% compares with a revised 3.8% y-o-y rise in November 2013.

"For the fourth quarter 2013 as a whole, Malaysia's industrial production index expanded 3.4% compared with the same quarter of the previous year. The increase was due to the increases in manufacturing index and electricity index by 4.8% and 5.6% respectively.

“However, the mining index declined by 1.1%," the department said.