Industrial production in Malaysia rose by 1.9 percent year-on-year in August 2019, following a 1.2 percent gain in July but missing market expectations of a 2 percent increase. output growth was mainly driven by further rises in both manufacturing (3.7 percent vs 4 percent in July), namely non-metallic mineral products, basic metal & fabricated metal products (4.3 percent), electrical & electronics products (3.5 percent) and petroleum, chemical, rubber & plastic (2.8 percent); and electricity generation (0.3 percent vs 2 percent). In addition, mining production dropped less (-3.9 percent vs -8.4 percent), amid a softer decline in crude oil and condensate (-9.5 percent). On a monthly basis industrial output increased by 0.9 percent in August, the first monthly rise in four months, after a 0.4 percent fall in July. Industrial Production in Malaysia averaged 2.44 percent from 2007 until 2019, reaching an all time high of 12.80 percent in March of 2010 and a record low of -17.60 percent in January of 2009.
Industrial Production in Malaysia is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Malaysia to stand at 2.80 in 12 months time. In the long-term, the Malaysia Industrial Production is projected to trend around 4.80 percent in 2020, according to our econometric models.