KUALA LUMPUR, Dec 11 — The Industrial Production Index (IPI) rebounded 2.7 per cent in October, spearheaded by the robust performance of the mining sector, alongside continuous growth in electricity and manufacturing output.
The Department of Statistics Malaysia's (DOSM) Chief Statistician Datuk Seri Mohd Uzir Mahidin said the IPI regained positive momentum in October, recording 2.7 per cent year-on-year growth compared to a negative 0.5 per cent registered in the previous month.
“The increase in October, which was the highest since May, was driven by the robust performance in the mining sector at 8.7 per cent (September: -5.2 per cent).
“In the meantime, the growth of the electricity and manufacturing sectors continued, with 5.8 per cent (September: 2.5 per cent) and 0.9 per cent (September: 0.4 per cent) respectively,” he said in a statement.
The increase in the manufacturing output in October was underpinned by the expansion in the domestic-oriented industries by 6.7 per cent (September: 5.8 per cent).
Meanwhile, on a month-on-month comparison, the IPI rose by 2.2 per cent, marking a rise for three consecutive months following the 1.1 per cent recorded in September.
Concluding his statement on the IPI performance for the first ten months of 2023, Uzir said the IPI expanded at a slower rate of 1.0 per cent compared to the same period of the previous year (January-October 2022: 7.3 per cent), with all sectors posting positive growth namely the electricity index (2.1 per cent), manufacturing index (1.1 per cent), and mining index (0.6 per cent).
— Bernama
