Malaysia: Industrial output records slowest growth since December 2023 in May
Industrial production increased 2.4% year on year in May (April: +6.1% yoy). May’s outturn marked the worst reading since December 2023. The weakening was largely driven by a deterioration in manufacturing output growth. In addition, mining and quarrying output weakened.
On a seasonally adjusted monthly basis, industrial output rebounded, rising 1.7% in May (April: -0.3% mom s.a.). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 1.4% in May, down from April’s 1.6%.