Malaysia's IPI up 3.1 pct in March-Xinhua

Malaysia's IPI up 3.1 pct in March

Source: Xinhua| 2023-05-09 16:53:00|Editor: huaxia

KUAL LUMPUR, May 9 (Xinhua) -- Malaysia's Industrial Production Index (IPI) grew by 3.1 percent in March, after recording an increase of 3.5 percent in February, official data showed Tuesday.

The Department of Statistics Malaysia (DOSM) said in a statement that the IPI growth in March was spurred by expansion in the manufacturing and mining sectors.

The manufacturing sector expanded 4.1 percent, moderated from 4.8 percent in February, while the mining sector rebounded by 0.8 percent, after recording a negative growth of 0.5 percent in February.

Nonetheless, the electricity index turned downward to a negative growth of 0.3 percent during the month from a positive growth of 1.1 percent last month.

In terms of month-on-month comparison, the IPI turned around to a vigorous performance of 8.3 percent in March after a declining trend for three consecutive months.

For the first quarter, the IPI moderated to 2.8 percent year-on-year as compared to 4 percent registered in the fourth quarter of 2022.

During the period, the manufacturing and mining indices increased by 3.4 percent and 2.1 percent, respectively, while the electricity index continued to decline by 1.2 percent.