Malaysia: Industrial output records quickest growth since May 2021 in July
Industrial production grew 12.5% year on year in July (June: +12.1% yoy). The print marked the best reasing since May 2021. July’s pickup was partly driven by an improvement in manufacturing production growth. In addition, mining and quarrying production gained steam.
On a seasonally-adjusted monthly basis, factory output fell 3.9% in July (June: +8.4% mom), the worst result since July 2021. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 5.7% in July, up from June’s 4.3%.