DOSM: Malaysia’s IPI slips 0.7pc, but manufacturing index rebounds in August 2021

13-Oct-2021 Intellasia | Bernama | 5:02 AM Print This Post

Malaysia’s Industrial Production Index (IPI) shrank marginally by 0.7 per cent year-on-year (y-o-y) in August 2021 compared with the same period last year, mainly influenced by the decline in mining index (-4.2 per cent) and electricity index (-4.8 per cent), said the Department of Statistics Malaysia (DOSM).

“However, the manufacturing index recorded an expansion of 0.6 per cent y-o-y after recording a downturn of 6.5 per cent in July 2021,” chief statistician Datuk Seri Mohd Uzir Mahidin said in a statement today.

On a month-on-month basis, he said the IPI increased 3.2 per cent in August 2021, driven by manufacturing (up 5.3 per cent) and electricity (up 2.8 per cent) sectors which attributed to the opening of more economic sectors, in line with the transition phase of the National Recovery Plan (NRP).

On the y-o-y manufacturing sector performance, Mohd Uzir said the main subsectors that contributed to the growth in the sector were petroleum, chemical, rubber and plastic products (15.2 per cent), and electrical and electronics products (8.6 per cent), in line with the encouraging growth of exports.

“Export-oriented industries grew 7.6 per cent y-o-y while domestic-oriented industries shrank by 13.8 per cent y-o-y,” he said.

For the first eight months of 2021, Mohd Uzir said the IPI grew 8.2 per cent as compared to the same period last year, with the increase driven by the rise in all components, namely manufacturing index (up 10.4 per cent), mining index (up three per cent) and electricity index (up 1.7 per cent).

https://www.malaymail.com/news/money/2021/10/12/dosm-malaysias-ipi-slips-0.7pc-but-manufacturing-index-rebounds-in-aug-2021/2012742

 

Category: Malaysia

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