August industrial output up by 0.3%, slightly above forecast


Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said on Monday the increase in IPI in August was driven by the positive growth of 2.4% in manufacturing index.

KUALA LUMPUR: Malaysia’s industrial production index (IPI) increased by 0.3% in August from a year ago, which was higher than a Bloomberg survey of a 0.2% increase.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said on Monday the increase in IPI in August was driven by the positive growth of 2.4% in manufacturing index.

However, the mining index recorded a decline of 6.7% and electricity index dipped by 1.2%.

The manufacturing sector output based on year-on-year comparison grew by 2.4% in August, but at a slower pace compared with an increase of 2.9% in July.

The major sub-sectors contributing to the growth in manufacturing sector in August were electrical and electronics products (6.9%), transport equipment and other manufacturers (6.9%) and food, beverages and tobacco (4.7%).

As for the mining sector, output dropped by 6.7% in August due to the decrease in crude oil and condensate index (-5%) and natural gas index (-8%).

The electricity sector output decreased by 1.2% in August from a year ago.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

Next In Business News

Malaysia Airlines offers subsidised tickets to boost domestic tourism
O&M business drives Serba Dinamik profits higher in Q3�
Top Glove confirms temporary stoppage of production plants in Klang due to Covid-19�
Soybeans touch 4-1/2 year high of $12 on supply concerns, high demand
Ringgit closes higher vs US$ at 4.0880
CPO futures close higher at RM3,518
Boustead Plantations stages turnaround in 3Q with RM17.9m net profit
US dollar falls to 2018 lows as vaccine optimism damps haven demand
HLT Global posts lower Q3 profit, as operating cost jumps�
PRG returns to black in 3Q with RM19mil net profit

Stories You'll Enjoy