Malaysia’s Industrial Production Index Falls 2.2 Pct in June

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Malaysia’s industrial production index (IPI) fell 2.2 percent year on year in June after posting a positive growth of 4.8 percent registered in May, official data showed Tuesday.

The Department of Statistics Malaysia (DOSM) said in a statement that the decline was attributed to a contraction in the manufacturing and mining sectors, which slipped 1.6 percent and 6.4 percent, respectively, from positive growth of 5.1 percent and 2.9 percent in May.

Meanwhile, the output of the electricity sector moderated to 2.8 percent as against the 5.9 percent recorded in the preceding month.

On a month-on-month comparison, the IPI grew by 2.2 percent as compared to 7.3 percent registered in the previous month.

In the second quarter, the IPI registered a marginal decline of 0.3 percent as compared to the 2.9 percent growth recorded in the first quarter.

During the second quarter, the mining sector decreased by 2.8 percent, while the manufacturing sector rose slightly by 0.1 percent.

Nevertheless, electricity generation increased by 2.8 percent, continuing an upward trend for two consecutive quarters.

As for the first six months, the IPI moderated to 1.3 percent as compared to 5.4 percent in the same period of the previous year.

The increase was supported by the manufacturing index of 1.7 percent and the electricity index of 1.6 percent.

On the other hand, the mining index inched down by 0.4 percent.