ZCZC
BCN-25
MALAYSIA-INDUSTRIAL-PRODUCTION
Malaysia’s Industrial Production rises 2.6 pct in July
KUALA LUMPUR, Sept. 8, 2018 (BSS/Xinhua) – Malaysia’s Industrial Production
Index (IPI) rose 2.6 percent year-on-year in July, boosted mainly by
manufacturing and electricity sectors, the Malaysian Statistics Department
said in a statement Friday.
The manufacturing index grew 5.2 percent, electricity index increased by
4.5 percent, while the mining index fell 5.9 percent, dragged by the 15.2
percent drop in the natural gas index, offsetting the 4.5 percent growth of
crude oil index.
The major sub-sectors of manufacturing which recorded an increase in July
were electrical and electronic equipment products that surged 8 percent;
petroleum, chemical, rubber and plastic products that rose 4 percent.
Transport equipment and other manufacturers products jumped 13.5 percent.
Despite fall in mining output, the IPI growth was slightly above
economists’ expectations.
“Moving forward, we foresee IPI performance to expand at steady pace for
the second half of 2018 amid escalating trade tension, easing inflationary
pressure and volatility risks in global commodity prices and currencies,”
MIDF Research said in a note Friday.
The research house projected IPI to grow 3.8 percent this year.
“Lower business cost partly due to moderating inflation, stable retail fuel
prices and tax-holiday will provide additional boost for industrial
production growth to hit 3.8 percent in 2018,” it said.
BSS/XINHUA/HR/1220