Malaysia's December industrial production index up 4.8% on-year (Update)

KUALA LUMPUR: Malaysia's industrial production index (IPI) in December rose at a slower-than-expected 4.8% on-year, which was below expectations of 5.3%.

The Statistics Department said on Monday the increase was due to the stronger output from the manufacturing index and electricity index of 6.7% and 6.0% respectively. The mining index declined by 0.8%.

"The IPI in November 2013 has been revised positive 3.8% year-on-year," it said.

The department said in seasonally adjusted terms, the IPI in December 2013 fell  1.1% on-month.

"The decrease was particularly due to the decline in the mining index of 5.1%. Meanwhile, manufacturing index and electricity index increased by 0.4% and 0.1% respectively," it said.

On the manufacturing sector, the department said output increased by 6.7% in December 2013 following an increase of 4.4% (revised) in November 2013.

Major sub-sectors which registered increases in December 2013 were petroleum, chemical, rubber and plastic products (4.9%); electrical and electronics products (6.9%) and transport equipment and other manufactures (27.7%).

On a seasonally adjusted on-month basis, manufacturing output rose 0.4% from November 2013.

For the fourth quarter of 2013, Malaysia's IPI expanded 3.4% on-year, underpinned by the stronger growth of the manufacturing and electricity sectors. The manufacturing index increased by 4.8% and electricity by 5.6% but the mining index declined by 1.1%.