Kuala Lumpur, 14 July 2019 – The Department of Statistics recently announced that industrial production index (IPI) for May that measures of factory output in the manufacturing, mining and electricity generating sector rose 4.0% from a year earlier.
Meanwhile on 3rd July 2019 – S&P Global Rating’ (Standard and Poor’s) affirmed Malaysia’s issuer credit rating at A- with stable outlook.
In contrast, industrial production in other ASEAN economies experienced contraction. However, the Finance Ministry believes that persistent industrial production expansion for Malaysia with solid expansion in exports and domestic demand will contributing to sustain GDP growth in the second quarter of 2019.
The World Bank forecasting Malaysia to enjoy 4.6% GDP growth for the whole 2019.
The May 2019 industrial production index grew 4.0% year-on-year, beating the market expectations for a 3.5% rise as compiled by Bloomberg.
The expansion of both exports and industrial production signal that the Malaysian economy is resilient in the overcoming external disruption.
Apart from industrial and trade statistics, other indicators are showing promising trends. Inflation rates for May 2019 was low and stable at 0.2%. It is due to robust of domestic demand growth.