June IPI draws mixed views on Q2 growth

“The IPI data for June confirms the general weakness of manufacturing," says Williams,

PETALING JAYA: Projections about economic growth in the second quarter (2Q23) are split after the country’s Industrial Production Index (IPI) for June 2023 showed a year-on-year contraction of 2.2%.

The Statistics Department released its findings for June yesterday and the slowdown was in contrast to the 4.7% y-o-y expansion the country experienced the month before.The silver lining was that on a month-on-month (m-o-m) comparison, the IPI for June grew by 2.2%.