Malaysia July Factory Output Up 6.1%

Malaysia’s industrial production in July expanded at its fastest pace in eight months, government data showed on Monday, boosted by gains in all three major sectors, Reuters reported. Factory output grew 6.1% from a year earlier in July, the fastest since November 2016 and beating the 5.3% annual rise forecast in a Reuters poll. Industrial output was up 4% in June. July’s factory output was due to strength in the manufacturing, electricity and mining sectors, according to data from the Statistics Department. Manufacturing output grew 8% from a year earlier in July, boosted by growth in the food, tobacco, and electrical and electronic products subsectors, the data showed. The electricity generation sector rose 7.9% year-on-year, while mining output grew 0.2%. Malaysia’s exports in July beat economists’ estimates, rising 30.9% from a year earlier, on higher shipments of manufactured products and mining goods. However the index for crude oil fell by 3.9% in July 2017. Electricity output increased strongly by 7.9% in July 2017 after rising 2.1% the previous month.