FX.co ★ Malaysia Industrial Output Rises At Slower Pace

Malaysia's industrial production growth moderated in September, according to data released on Friday by the Department of Statistics.

Year-over-year, industrial output expanded by 2.3% in September, a deceleration from the 4.1% rise recorded in August. The manufacturing and electricity sectors experienced slower growth, while the mining sector continued its decline, albeit at a reduced rate.

Manufacturing output growth dropped significantly to 3.2% from August's 6.5%. Similarly, electricity production increased by only 3.9%, compared to the previous month's 4.2% gain. Meanwhile, the mining sector's production decreased for the third consecutive month, albeit by a lesser -2.2%.

On a month-to-month basis, industrial output contracted by 0.7%, contrasting with the 1.7% growth seen in the previous month.

During the third quarter, industrial production rose by 3.9%, down from the 4.5% growth witnessed in the preceding quarter, as per the released data.