The Malaysian government has announced a slight contraction in the country’s industrial production for the month of December, marking a decrease of 0.1% compared to the previous year.
Contrary to expectations, all 12 economists surveyed had predicted an expansion of 0.7% in Malaysia’s industrial production for December.
The unexpected downturn in industrial output signals challenges faced by Malaysia’s manufacturing sector, potentially stemming from various factors such as global economic uncertainties, supply chain disruptions, and domestic issues. These challenges may have contributed to the subdued performance witnessed in December.
The decline in industrial production highlights the need for policymakers and industry stakeholders to closely monitor economic indicators and implement targeted measures to support the resilience and growth of Malaysia’s industrial sector amidst ongoing challenges and uncertainties.