Malaysia's IPI rebounds to 0.7 pct in July-Xinhua

Malaysia's IPI rebounds to 0.7 pct in July

Source: Xinhua

Editor: huaxia

2023-09-11 19:44:00

KUALA LUMPUR, Sept. 11 (Xinhua) -- Malaysia's industrial production index (IPI) rebounded to 0.7 percent in July, spurred by the growth momentum in mining and electricity sectors, official data showed Monday.

The IPI returned to positive territory in July as against a 2.2-percent contraction recorded in the previous month, the Department of Statistics Malaysia (DOSM) said in a statement.

The marginal increase was supported by the expansion in mining sector by 4.2 percent and electricity sector by 1.5 percent.

Meanwhile, the manufacturing sector continued to decline, albeit with a smaller decrease of 0.2 percent.

On a month-on-month comparison, the IPI fell 1.8 percent, contrasting with the positive growth of 2.2 percent in the previous month.

The export-oriented industries which accounted for about two-thirds of the manufacturing output, remained on a downward trend with a negative 2.7 percent.

As for the first seven months, the IPI expanded at a slower rate of 1.2 percent as compared to the same period of the previous year with all sectors posting positive growth.