Economic Research
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13
March 2017
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Malaysia
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Economic Update
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The Industrial Production
Index (IPI) slowed to 3.5% YoY in January, from +4.7% in December, on the
back of a slowdown in mining activities and electricity output. Looking
ahead, we envisage real GDP to hold up at 4.5% YoY in 1Q, bringing full year
growth to 4.5% in 2017, from +4.2% in 2016 on account of:
1. A sustained increase in domestic demand, on the back
of resilient consumer spending;
2. A modest rise in public spending and private
investment;
3. A stronger-than-expected recovery in exports, on
higher commodity prices.
The slowdown in industrial production in December was on the back of a
slower growth in mining activities and electricity output. This was mitigated
by a faster rate of growth in manufacturing activities.
In tandem with the pick-up in manufacturing output, manufacturing
sales inched higher, along with a pick-up in hiring during the month.
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Tuesday, March 14, 2017
Industrial Production Eases on Slower Mining Activities
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