Malaysia's IPI dips 0.1 pct in December, dragged by manufacturing sector

0 Comment(s)Print E-mail Xinhua, February 7, 2024
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KUALA LUMPUR, Feb. 7 (Xinhua) -- Malaysia's industrial production index (IPI) dipped by 0.1 percent in December 2023, weighed down by the manufacturing sector, official data showed Wednesday.

The Department of Statistics Malaysia (DOSM) said in a statement that the manufacturing sector fell 1.4 percent in the month.

On the other hand, the mining and electricity sectors sustained positive momentum, registering 3.6 percent and 4.6 percent rise, respectively.

In comparison with the preceding month, the IPI continued to decline by 1.3 percent as compared to the negative 0.9 percent recorded in the previous month.

For the fourth quarter of 2023, the IPI rose 1 percent year-on-year as compared to a fall of 0.05 percent in the third quarter of 2023.

During the period, the mining and electricity sectors grew 4.3 percent and 4.9 percent respectively. Conversely, the manufacturing sector edged down marginally by 0.2 percent in the quarter.

The IPI registered a marginal growth of 0.9 percent in 2023 as all sectors posted positive growth, namely the electricity index (2.5 percent); mining index (0.8 percent); and manufacturing index (0.7 percent). Enditem

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