Industrial production in Malaysia increased by 2.5 percent year-on-year in November of 2018, slowing from an upwardly revised 4.3 percent gain in October but beating market expectations of 2.2 percent. Manufacturing production growth slowed noticeably (3.6 percent vs 5.4 percent in October), namely transport equipment and other manufactures products (8.3 percent); electrical and electronic products (5.3 percent); and petroleum, chemical, rubber and plastic products (3.4 percent). In addition, mining production decreased 0.7 percent, reversing from a 1.4 percent rise in a month earlier, mainly due to falls in natural gas (-1.8 percent). Meanwhile, electricity output advanced at a faster 3.2 percent (vs 2.1 percent in October). On a monthly basis industrial production went up 0.1 percent in November, much slower than a 1.7 percent increase in a month earlier. Industrial Production in Malaysia averaged 2.40 percent from 2007 until 2018, 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 4.20 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 3.60 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.