• Drop in export-oriented output accelerated but domestic-oriented production recorded sustained rise

• Manufacturing sector employment increased by 2.1% YoY

• Manufacturing sales to improve in line with sustained growth in domestic spending and recovery in external demand

The sales value of the manufacturing sector slipped further by 2.6% in November 2023 from the 1.4% decline registered in the preceding month. The decrease was primarily due to the substantial drop in the petroleum, chemical, rubber & plastic products sub-sector by 10.8% (Oct: -9.5%) and the electrical & electronics products sub-sector which fell by 5.3% (Oct: -2.7%).

As compared to the preceding month, the sales value descended by 1.1% as against RM156.7bn recorded in October while the seasonally adjusted sales value decreased 0.2%.

Source: BIMB Securities Research - 12 Jan 2024