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Malaysia: IPI advanced 1% in September
KUALA LUMPUR: Malaysia’s industrial production index (IPI) rose by 1% in September from a year ago, which was below a Bloomberg survey of a 2.3% increase, due to a slowdown in mining and electricity.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin (pic below) said yesterday the slight increase in the IPI in September was driven by a 4.3% increase in the manufacturing index.
However, the mining and electricity index recorded a decrease of 9.6% and 2.1% respectively.
The manufacturing sector output based on year-on-year comparison grew by 4.3% in September after recording a growth of 2.2% in August.
The major sub-sectors contributing to the growth in manufacturing sector in September were electrical & electronics products (9.8%), food, beverages & tobacco (4.9%) and petroleum, chemical, rubber & plastic products (3.2%).
However, the mining sector output dropped by 9.6% in September on-year due to the decrease in crude oil & condensate index (-9.7%) and natural das index (-9.5%).
The data showed electricity sector output declined by 2.1% on-year.
As for the third quarter, the IPI increased by 0.8% when compared with the previous corresponding period.
This increase was due to the 3.1% increase in the manufacturing index.However, the mining and electricity index recorded a decline of 6.5% and 2.8% respectively.
Source: https://www.thestar.com.my/business/business-news/2020/11/10/ipi-advanced-1-in-september