KUALA LUMPUR: Malaysia’s industrial production index (IPI) contracted by 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.
In a statement, the Statistics Department said 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 the manufacturing sector in November 2020 were electrical and electronic products (8.3%), transport equipment and other manufactures (6.5%) and petroleum, chemical, rubber and plastic products (2%), ” said chief statistician Datuk Seri Dr Mohd Uzir Mahidin.(pic)
Did you find this article insightful?