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Industrials

Malaysia's August factory output rises 0.3% y/y, above forecast

* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=MYIP%3DECI poll data

KUALA LUMPUR, Oct 12 (Reuters) - Malaysia’s industrial production index in August rose 0.3% from a year earlier, the second straight month of positive growth although at a slower pace compared to July, government data showed on Monday.

The index measures factory output from the manufacturing, mining and electricity generation sectors.

Output in August was marginally higher than the 0.1% annual growth forecast by analysts surveyed by Reuters, but notably lower than the 1.2% rise in July.

August’s increase in the index was driven by growth in the manufacturing sector, which rose 2.4% year-on-year, the Statistics Department said in a statement.

Mining and electricity output were down 6.7% and 1.2%, respectively, data from the department showed.

Malaysia’s exports fell 2.9% in August, on weak demand for its manufacturing, agriculture and mining goods. (Reporting by Joseph Sipalan; Editing by Himani Sarkar)

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