Malaysia's IPI rises 0.6 pct in November 2023-Xinhua

Malaysia's IPI rises 0.6 pct in November 2023

Source: Xinhua

Editor: huaxia

2024-01-11 15:39:45

KUALA LUMPUR, Jan. 11 (Xinhua) -- Malaysia's industrial production index (IPI) inched up 0.6 percent year-on-year in November 2023, largely as a result of growth in mining and electricity sectors, showed official data Thursday.

According to the Department of Statistics Malaysia (DOSM), the marginal growth was achieved despite a decline in the manufacturing sector.

The increase was backed by an expansion in the mining sector at 1.9 percent, and in the electricity sector at 4.2 percent, it said in a statement.

Meanwhile, growth in the manufacturing sector turned downward to a negative 0.1 percent.

On a month-on-month basis, the IPI returned to negative territory at -0.9 percent as compared to the positive 1.9 percent recorded in the previous month.

As for the first eleven months of 2023, the IPI rose at a slower rate of 1 percent as compared to the same period of the previous year, supported by the electricity, manufacturing, and mining sectors.