Industrial Production in Malaysia Shows Signs of Improvement in December 2020: Moody’s Analytics

Moody’s Analytics (Moody’s) reported a pick-up in Malaysia’s industrial production in December 2020, up 4.1% year-on-year (YoY), following two months of declines amidst the COVID-19 pandemic. According to a report issued on the 9th of February 2021, Moody’s stated that the growth in manufacturing was led by electrical products and transport equipment, whilst consumer products, mining and electricity weighed down on industrial production.

Production of electrical products grew 7.6% YoY in December 2020, following a rise of 8.6% YoY in November 2020. Meanwhile, the production of transport equipment was also favourable, recording an increase of 8.4% YoY in December 2020. However, the growth of consumer products such as food, beverages, tobacco and textiles...