Commodities

Malaysia's July factory output up 1.2% y/y, below forecast

Credit: REUTERS/Bazuki Muhammad

Malaysia's industrial production index rose at its slowest pace in five years in July as mining output slowed, government data showed on Wednesday.

reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=MYIP%3DECI poll data

KUALA LUMPUR, Sept 11 (Reuters) - Malaysia's industrial production index rose at its slowest pace in five years in July as mining output slowed, government data showed on Wednesday.

July's factory output rose 1.2% from a year earlier, the slowest since July 2014 when it grew 0.6%.

Annual output growth in July was sharply below the 3.5% expansion forecast in a Reuters poll, and down from the 3.9% rise seen in June.

The index measures factory output from the manufacturing, electricity generation and mining sectors.

The sectoral indexes for manufacturing and electricity generation rose 4% and 2% year-on-year respectively in July, data from the Statistics Department showed.

Mining output, however, declined 8.4%, the data showed.

Malaysia's exports in July climbed 1.7% from a year earlier, rebounding from a drop in the previous month, lifted by solid demand for manufactured goods and higher shipments to China.

(Reporting by Rozanna Latiff; Editing by Subhranshu Sahu)

((rozanna.latiff@thomsonreuters.com; +603 23338034; Reuters Messaging: rozanna.latiff.thomsonreuters.com@reuters.net))

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