U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4
Malaysian industrial output growth surges year-on-year in November
Malaysia’s industrial output rose sharply in November on a year-on-year basis. According to Department of Statistics Malaysia, the industrial production grew significantly by 6.2 percent year-on-year, mainly driven by higher indices in all the sectors.
The manufacturing sector output expanded strongly 6.5 percent year-on-year in November, following a 4.2 percent year-on-year growth in October. The growth was driven by increased expansion in major sub-sectors, such as petroleum, chemical, plastic products and rubber, which rose 6.1 percent; electrical and electronics products that rose 8.9 percent, and food, tobacco and beverages that rose 10.4 percent.
In the meantime, the mining sector output grew steadily by 4.7 percent in November after recording a rise of 3.5 percent in the previous month. Rise of 13.2 percent in natural gas index drove the growth in mining sector output. But the crude oil index fell 1.9 percent in the month. Lastly, the electricity sector growth accelerated 9.7 percent year-on-year in November, as compared with the growth of 6.9 percent in October.
Meanwhile, the sales value of the manufacturing sector rose 8.2 percent to MYR 60.1 billion as compared to MYR 55.5 billion recorded one year ago. The total number of employees in the manufacturing sector reached 1,030,745 in November, representing a rise of 0.2 percent year-on-year. Productivity rose 8 percent to register MYR 58,301, as compared to the same month one year ago, stated the Department of Statistics Malaysia.