July 12, 2018 / 4:02 AM / a year ago

Malaysia's May factory output up 3 pct y/y, meets forecast

KUALA LUMPUR, July 12 (Reuters) - Malaysia’s industrial production index rose 3 percent in May from a year earlier, supported by gains in the manufacturing and electricity generation sectors, government data showed on Thursday.

May’s output growth was in line with the 3 percent annual rise forecast in a Reuters poll, but down from the 4.6 percent increase recorded in April.

The index measures factory output from the manufacturing, electricity generation and mining sectors.

Manufacturing output rose 4.1 percent year-on-year in May, helped by growth in electrical and electronics products and rubber and plastic products, data from the Statistics Department showed.

Electricity generation output rose 2.6 percent from a year earlier, the data said. Mining output, however, declined 0.5 percent.

Malaysia’s annual export growth in May slowed sharply to 3.4 percent, amid lower demand for palm oil, a major export commodity.

A private manufacturing purchasing managers’ index showed Malaysian factory activity contracted again in June, but at the slowest pace since March.

Reporting by Rozanna Latiff; Editing by Sunil Nair

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