November IPI higher by 2.5%


PETALING JAYA: Malaysia’s manufacturing and electricity sectors recorded higher output in November 2018, raising the country’s Industrial Production Index (IPI) up by 2.5% year-on-year (y-o-y).

The IPI growth in the month of November came above a Bloomberg survey of 2.3%, amid concerns of economic slowdown and subdued business sentiment.

However, it was lower than the 4.2% y-o-y growth recorded in October 2018.

According to the Statistics Department, the manufacturing sector output expanded by 3.6% in November 2018 after registering a growth of 5.4% a month earlier.

“The major sub-sectors that contributed to the growth in November 2018 were transport equipment and other manufactures products (8.3%), electrical and electronic equipment products (5.3%) and petroleum, chemical, rubber and plastic products (3.4%),” it stated in a press release yesterday.

Meanwhile, the electricity sector index increased by 3.2% from a year ago.

Despite the rise in the manufacturing and electricity indices, the output of the domestic mining sector fell in November last year.

The Statistics Department pointed out that the mining index declined by 0.7% y-o-y.

“This was due to a decrease in the natural gas index by 1.8%.

“Meanwhile, the crude oil index increased marginally by 0.6%,” it said.

 

 

Economy , IPI