June IPI advances 5.3% - Business News | The Star Online


June IPI advances 5.3%

  • Economy
  • Thursday, 11 Aug 2016

KUALA LUMPUR: Malaysia’s industrial production index (IPI) in June grew a stronger-than-expected 5.3% year-on-year, exceeding a survey of 2.5% growth.

According to the Statistics Department, the higher growth was driven by the manufacturing sector which grew 4.7%, mining sector up 6.3% and electricity sector rose 8.7%.

The manufacturing sector continued to expand at 4.7% in June 2016 after registering a growth of 3.7% in May 2016.

It said the growth in June 2016 was supported by three major sub sectors electrical and electronics products (9.1%), petroleum, chemical, rubber and plastic products (5.0%) and wood products, furniture, paper products, printing (10.1%).

The mining sector output grew substantially by 6.3% in June 2016 after recorded a decrease of 1.1% in May 2016. The higher growth in mining sector was contributed by the increase in crude oil index (8.8%) and natural gas index (3.5%).

The electricity sector output grew by 8.7% as compared to 9.6% growth recorded in May 2016.