Malaysia’s November Output Growth Accelerates on ManufacturingMichael Munoz
Malaysian industrial output growth quickened in November to the fastest in six months as the global economy’s recovery boosts demand for Asian goods.
Production at factories, utilities and mines rose 7.5 percent from a year earlier after gaining a revised 6.4 percent in October, the statistics department said in a statement today. The median of 16 estimates in a Bloomberg News survey was for a 5.9 percent increase.
China’s exports and imports rose to a record in December, official data today showed, while U.S. companies added more workers than projected last month, signaling the world’s largest economies are picking up. Malaysia’s exports rebounded at a stronger pace than estimated in November on bigger shipments of electronics and petroleum products, a report showed yesterday.
“With China’s ongoing strength, Asian economies will get a huge boost from increasing demand,” Frederic Neumann, co-head of Asian economics research at HSBC Holdings Plc in Hong Kong, said before the report. “Commodity exports continue to benefit from China’s appetite for raw materials.”
Manufacturing output gained 7.6 percent in November from a year earlier, after a revised 6.6 percent increase the previous month, today’s report showed. Mining rose 7.5 percent, while electricity production grew 6 percent.