Malaysia's industrial output growth weakened more than economists expected in July, as the mining industry registered a sharp fall in production, data released by the Department of Statistics showed Monday.
Industrial production increased 1.4 percent on an annual basis in July. Economists had forecast output to grow at a slower pace of 3 percent than June's 3.7 percent.
July's sharp slowdown in production reflected a 10.4 percent fall in mining output. Manufacturing output, meanwhile, rose by 5.5 percent year-on-year, faster than 4.8 percent gain seen in June. Electricity production was higher by 2.8 percent compared to last year, data showed.
On a monthly basis, industrial output decreased a seasonally adjusted 4.7 percent in July, as all sectors recorded decline in production, the agency said.
by RTT Staff Writer
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