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Malaysia's Industrial Production Expands Less Than Forecast

Malaysia's industrial production grew less than expected in January, data from the Department of Statistics showed Tuesday.

Industrial output grew 3 percent year-on-year in January, slightly faster than the 2.9 percent expansion seen a month ago. However, the pace of growth was much weaker than the expected 6.8 percent.

The 3 percent growth was largely driven by manufacturing and electricity. Manufacturing climbed 4.8 percent and electricity output advanced 4.3 percent. Mining output grew only 1.5 percent.

However, on a monthly basis, industrial production logged a decrease of 4.5 percent in January.

Another report from the statistical office showed that manufacturing sales logged a double-digit growth of 10.8 percent in January.

Total employees engaged in manufacturing rose 2.5 percent or 26,203 from previous year. At the same time, salaries and wages paid climbed 13.3 percent in January.

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