KUALA LUMPUR: The Industrial Production Index rose by 2.1 per cent year-on-year (y-o-y) in October 2024, spurred by steady output growth in the manufacturing sector, according to Statistics Department Malaysia (DOSM).
Chief statistician Datuk Seri Mohd Uzir Mahidin said the IPI maintained positive growth in October 2024, albeit at a slower rate of 2.1 per cent after registering 2.3 per cent in the preceding month.
"The increase was spearheaded by the manufacturing sector which expanded by 3.3 per cent, up from 3.2 per cent in September 2024, and a 2.5 per cent rise in electricity output (September 2024: 3.9 per cent)," it said in a statement today.
Mining sector production, however, fell by a further 2.8 per cent against a negative growth of 2.2 per cent in the previous month.
"Month-on-month, the IPI increased 1.7 per cent from negative 0.7 per cent in September 2024," he added.
Meanwhile, in a separate statement on October's manufacturing statistics, Mohd Uzir said sales from the sector grew by 3.0 per cent y-o-y to reach RM161.3 billion in October 2024.
“The sector continued its positive momentum, with a sales value of RM161.3 billion in October 2024, reflecting a 3.0 per cent growth, slightly surpassing the 2.9 per cent rise in the previous month," the statement said.
Growth was primarily fueled by a robust 11.2 per cent rise in the food, beverages and tobacco sub-sector, following a 5.6 per cent rise in September 2024.
"Growth was further supported by a 3.2 per cent rise in the electrical and electronics products sub-sector and a 4.4 per cent in the non-metallic mineral products, basic metal and fabricated metal products sub-sector," he said.
On a m-o-m basis, sales value fell by 0.6 per cent from RM162.3 billion in September 2024. - Bernama
