Malaysia's Nov IPI contracts 2.2%

KUALA LUMPUR: Malaysia's industrial production index contracted 2.2% in November 2020 as compared to the same month in 2019, despite a 0.2% median growth forecast by a survey of Bloomberg economists.

The Department of Statistics Malaysia said in a statement that the country's mining index fell 15.4% while the electricity index dropped 2.5%.

The contraction of the mining index accelerated from October, when it declined 10.6%. The electricity index grew 0.8% in October.

The manufacturing index recorded 2% growth year-on-year although this was slower than the 2.4% increase seen in October.

"The major sub-sectors contributing to the growth in manufacturing sector in November 2020 were electrical & electronics Products (8.3%), transport equipment & other manufactures (6.5%) and petroleum, chemical, rubber & plastic products (2%)," said chief statistician Datuk Sri Mohd Uzir Mahidin.

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?


Next In Business News

Chinese banks, Australia's Macquarie tiptoe into Asian oil finance void
Australia's Afterpay to explore global listing as first-half sales double
GameStop stock doubles; even Reddit is surprised
Data-focused Powell paves way for era of extended loose Fed policy
Oil price rises after data shows slump in US output amid Texas freeze
Wall Street finishes up as Fed's Powell soothes inflation fears
Geely Auto and Volvo Cars to launch powertrain venture after merger scrapped
Malaysia Airlines to introduce digital travel health pass
Rising aluminium prices lift Press Metal profits�
AEON Malaysia registers RM41.4mil net profit in FY20

Stories You'll Enjoy