KUALA LUMPUR: Malaysia's Industrial Production Index (IPI) rebounded to 4.7 per cent in May 2023 from negative 3.3 per cent in the previous month, driven by improved growth in mining, manufacturing and electricity sectors.
In a statement today, the Department of Statistics, Malaysia (DOSM) said the IPI returned to positive growth of 4.7 per cent in May 2023 as against negative 3.3 per cent recorded in the previous month.
The expansion in May 2023 was attributed by the increase in all sectors, predominantly by manufacturing sector which registered 5.1 per cent (April 2023: -3.0 per cent), mining with 2.9 per cent (April 2023: -4.9 per cent); and electricity with 5.0 per cent (April 2023: -2.0 per cent).
As compared to April 2023, the IPI accelerated by 7.3 per cent after registering a negative growth of 10.8 per cent in April 2023.
The rise of 5.1 per cent in manufacturing sector in May 2023 was propelled by the robust growth of 10.1 per cent in domestic-oriented industries (April 2023: -2.1 per cent) which was backed by the manufacture of motor vehicles, trailers & semi-trailers (16.4 per cent); and Manufacture of fabricated metal products, except machinery & equipment (11.9 per cent).
Similarly, the export-oriented industries ascended by 2.8 per cent (April 2023: -3.5 per cent) which was supported by the acceleration of the manufacture of vegetable & animal oils & fats (13.0 per cent); and manufacture of coke & refined petroleum products (5.9 per cent).
A month-on-month comparison, the manufacturing sector registered positive growth of 7.0 per cent as compared to negative 11.4 per cent in April 2023.
© New Straits Times Press (M) Bhd
from New Straits Times https://ift.tt/EUfjN4Y
0 Comments