March industrial production index exceeds forecast

KUALA LUMPUR: Malaysia's industrial production index (IPI) expanded at a faster pace of 3.1% in March, exceeding a Bloomberg survey of a 2.3%, according to the Statistics Department.

Chief Statistician  Datuk Seri Dr Mohd Uzir Mahidin said on Friday the increase in was supported by the growth in the index of electricity (4.8%) and manufacturing (4.1%). However, mining recorded a decline of 0.2%.

Manufacturing sector output rose by 4.1% in March after recording a growth of 3.7% in February 2019. 

The major sub-sectors contributing to the increase in March were food, beverages and tobacco products (6.8%); petroleum, chemical, rubber and plastic products (3.7%) and electrical and electronics products (2.7%). 

The department said electricity sector output rose by 4.8% in March from a year ago.

However, the mining sector shrank by 0.2% in March from a year ago.  The drop was contributed by the crude oil index (-2%) while the natural gas index increased by 1.4%.

The IPI for the first quarter of 2019 grew by 2.7% from a year ago. The increase was contributed by the growth in electricity sector (5.8%) and manufacturing sector (4%). The mining sector declined by 1.9%.


Across The Star Online