Friday 29 Mar 2024
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KUALA LUMPUR (Dec 12): Malaysia's Industrial Production Index (IPI) rose 4.2% year-on-year (y-o-y) in October, driven by the manufacturing, electricity and mining sectors, official data released on Wednesday showed.

IPI, which measures real production output of manufacturing, mining and electricity, grew faster than expected in October. The median forecast in a Reuters poll was for a 3.3% increase. The index is up from the 2.3% expansion in September.

The growth in October was supported by the increase in all indices: manufacturing rose 5.4%, electricity increased 2.1% and mining grew by 1.4%.

The department of statistics noted the growth in manufacturing output was driven by major sub-sectors, which are transport equipment and other manufactured products (10.1%), electrical and electronics products (7.1%), and petroleum, chemical, rubber and plastic products (4.1%).

The report also stated that the mining sector index's 1.4% y-o-y increase in October 2018 was contributed by the growth in natural gas index (2.3%) and crude oil index (0.4%).

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