PPI for local production down 2.9% in Nov

KUALA LUMPUR: The Producer Price Index (PPI) for local production decreased 2.9 per cent year-on-year (y-o-y) in November 2018 from 0.7 per cent in the preceding month.  

In a statement today, the Department of Statistics said the decrease in the overall index was mainly due to y-o-y decline in agriculture, forestry and fishing (-22.7 per cent), manufacturing (-1.8 per cent) and water supply (-0.1 per cent).

“Conversely, the index of mining as well as electricity and gas supply rose 4.5 per cent and 1.2 per cent respectively,” it said.  Compared with the previous month, the PPI for local production registered a decline of 2.8 per cent in November which was contributed by the indices of mining (-16.4 per cent), agriculture, forestry and fishing (-6.4 per cent) as well as manufacturing (-0.7 per cent).

Water supply recorded a gain of 0.5 per cent while electricity and gas supply increased 0.3 per cent, it said.  Meanwhile, the agency said the PPI for local production by stage of processing (SOP) slid 2.8 per cent in November from the previous month.  

All indices experienced a decline. Crude materials for further processing saw a 10.9 per cent drop,  finished goods recorded a 0.9 per cent fall, and intermediate materials, supplies and components shrank 0.6 per cent.

On a y-o-y basis, the PPI for local production by SOP for November dropped 2.9 per cent.  "Indices of crude materials for further processing, finished goods and intermediate materials, supplies and components recorded a decrease of 6.9 per cent, 2.6 per cent and 1.5 per cent respectively," it said. - Bernama