Malaysia Industrial Output Growth Eases In November

(RTTNews) - Malaysia's industrial production growth moderated in November to the lowest level in four months, figures from the Department of Statistics showed on Friday.

Industrial production climbed 4.3 percent year-on-year in November, slower than the 6.0 percent rise in the previous month.

Among sectors, the annual growth in manufacturing softened to 4.9 percent from 6.5 percent. The overall growth was driven by a 5.0 percent upturn in the export-oriented industries.

Similarly, the annual growth in mining moderated to 2.3 percent from 5.8 percent. On the other hand, the electricity production expanded at an accelerated pace of 2.7 percent versus a 1.8 percent rise in October.

On a monthly basis, industrial output dropped 1.1 percent in November, reversing a 2.1 percent increase in October.

Separate official data showed that the unemployment rate in Malaysia decreased to an 11-year low of 2.9 percent in November from 3.0 percent in October. The number of unemployed people was 518,400 compared to 518,900 a month ago.