Malaysia Industrial Production Increases; Jobless Rate Falls

Malaysia’s industrial production increased at a faster pace underpinned by strong growth in manufacturing and electricity output, data from the Department of Statistics showed on Tuesday.

The unemployment rate hit the lowest since the Covid-19 outbreak, another report from the statistical office showed.

Industrial production rose 12.1 percent year-on-year in June, following a 4.1 percent increase in May.

Among sectors, manufacturing output grew the most by 14.5 percent annually in June, following a 6.9 percent gain in the prior month.

Production in electricity and mining sector logged a growth of 14.1 percent and 2.1 percent, respectively in June.

On a monthly basis, industrial production rose 9.6 percent in June.

Separate data from the statistical office revealed that the unemployment rate fell to 3.8 percent in June from 3.9 percent in May. This was the lowest rate since the Covid-19 outbreak.

The number of unemployed people decreased to 630,600 in June from 637,700 in May.

The labor force participation rate remained unchanged at 69.5 percent in June.

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