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Malaysia: July industrial output up 1.2%, above forecast
KUALA LUMPUR: Malaysia’s industrial output expanded by 1.2% from a year ago, exceeding a Bloomberg survey of 1%, as the growth was underpinned by the manufacturing sector.
The Statistics Department said on Friday the Industrial Production Index (IPI) returned to positive growth since February 2020 from a year ago.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase in the IPI in July 2020 was due to the 2.9% increase in the manufacturing index.
However, the indices of mining and electricity declined by 3% and 5.1%, he said.
The manufacturing sector output based on year-on-year comparison increased by 2.9% in July 2020 after recording an increase of 4.7% in June 2020.
The major sub-sectors contributing to the growth in manufacturing sector in July were electrical and electronics products (9.6%); transport equipment and other manufacturers (9%) and petroleum, chemical, rubber and plastic products (1.5%).
However, mining sector output dropped by 3% in July 2020 from a year ago. The deterioration was due to the decrease in crude oil and condensate index (-1.2%) and natural gas index (-4.4%).
As for the electricity sector, output fell by 5.1% in July from a year ago.
Source: https://www.thestar.com.my/business/business-news/2020/09/11/july-industrial-output-up-12-above-forecast