Malaysia’s IPI Rebounds to 4.7 Pct in May

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Malaysia’s industrial production index (IPI) has returned to positive growth of 4.7 percent in May from a contraction of 3.3 percent in the previous month, official data showed on Wednesday.

The expansion in May was attributed to an increase in all sectors, predominantly by the manufacturing sector which registered a growth of 5.1 percent, the Department of Statistics of Malaysia (DOSM) said in a statement.

Meanwhile, the mining sector rose 2.9 percent and the electricity sector grew 5 percent.

As compared to April, the IPI accelerated by 7.3 percent after registering a negative growth of 10.8 percent in April.

For the first five months of 2023, the IPI moderated to 2 percent from the same period of 2022.

During the period, the manufacturing sector expanded by 2.4 percent, while mining and electricity sectors rose slightly by 0.9 percent and 0.1 percent respectively.