Malaysia's Industrial production increased at a faster-than-expected pace in March, the Department of Statistics, Malaysia showed Monday. The Increase came about due to strong performances by all the three sectors.
Industrial production rose by 6.9 percent year-on-year, faster than the previous month's 5.2 percent increase. Economists had expected a 4.5 percent rise for the month.
The annual manufacturing output growth quickened to 6.3 percent from 4 percent in February, helped by positive contributions by electrical and electronics products; petroleum, chemical, rubber and plastic products; and non-metallic mineral products, basic metal and fabricated metal products.
Mining output increased 9.2 percent, thanks to strong growth in crude oil production. Electricity output was up 3.8 percent.
Month-on-month, industrial production rose a seasonally adjusted 0.6 percent in March compared to a 0.1 percent decline last month. Manufacturing and mining output increased by 1.2 percent each in March, and electricity output grew by 2.3 percent.
The statistical office also released the manufacturing sales value figures for the month of March.
The sales value of manufacturing sector rose 4.4 percent year-over-year to MYR 58.4 billion in March from MYR 55.9 billion in the corresponding month previous year.
On a monthly basis, manufacturing sales value increased by 12.1 percent in March, while on a seasonally adjusted basis, the value dipped 1.2 percent.
The number of employees engaged in the manufacturing sector declined 0.1 percent from the prior month. However, the average wages and salaries paid per employee in March increased by 3.7 percent.
Productivity or average sales value per employee grew by 12.2 percent in March from the previous month. On an annual basis, productivity rose by 4 percent.
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