Industrial production in focus

The Statistics Department's Mohd Uzir said the decline in August’s IPI y-o-y was attributed by a 0.6% contraction in the manufacturing sector compared with the smaller 0.2% slowdown registered in the previous month.

PETALING JAYA: Budget 2024 could see Putrajaya unveiling measures to lend further support for domestic-oriented industries, as the trend for weak exports continues to hold sway due to global headwinds, predicts economists.The forecast comes in tandem with the 0.3% year-on-year (y-o-y) dip in Malaysia’s Industrial Production Index (IPI) for August released by the Statistics Department yesterday.

This underlines the theme of declining manufacturing production from export-oriented industries, while domestic-focused sectors continued to expand.