December industrial output below forecast

KUALA LUMPUR: The country's industrial output in December rose at a much slower pace of 2.9%, which was below a Bloomberg survey of a 4.6% increase.

The Statistics Department said on Friday the December industrial production index (IPI) was slower than November's growth of 5%.

According to its data, manufacturing output rose 5.3%, slower than the 6.7% in November where electrical and electrionics expanded only 4.1% from 6.9% in November.

Of the manufacturing components, petroleum, chemical, rubber and plastic output expanded 3.6% from 7.5% in November. However, food, beverages and tobacco output jumped 17% from 8.2%.

As for the mining output, it fell 4.1% in December from a 0.2% increase in November due to the decrease in the index of crude oil and natural gas. 

Electricity output was maintained at 3.9%, which was similar to November's growth.