Malaysia's industrial sector posted stronger-than-expected growth in November 2024, with a 3.6% increase from the previous month.
The reading beat October's 2% increase and beat experts' forecasts of 2.5%.
The surge was supported by higher production and energy production, while the mining sector continued its decline, albeit at a slower pace.
Manufacturing activity saw a significant increase of 4.6%, surpassing the 3.3% growth seen in October.
The electricity sector also showed significant progress, rising 3.9% from a 1.9% increase the previous month.
Meanwhile, the decline in the mining sector slowed, contracting by just 0.8% compared to a more significant 2.8% decline in October.
Industries that meet domestic demand grew by 2.6%, down slightly from 3.3% in October.
In contrast, export-oriented industries, dominated by manufacturing, recorded a robust 5.6% growth, up from 3.3%, in line with higher export volumes.
Total sales in the manufacturing sector surged 4.5% year-on-year to RM161.9 billion, surpassing October's 3% gain, driven by rising demand for food, beverages, tobacco and electronics.
