Malaysia's IPI contracts 0.5 pct in October
Source: Xinhua | 2020-12-12
Malaysia's Industrial Production Index (IPI) contracted 0.5 percent in October as compared to the same month of the previous year, dragged by the mining index, official data showed Friday.
Malaysian Statistics Department said in a statement that the deterioration of IPI in October 2020 was due to the significant decrease of 10.6 percent in the mining index.
Meanwhile, the manufacturing and electricity index recorded a growth of 2.4 percent and 1 percent respectively.
The major sub-sectors contributing to the growth in the manufacturing sector in October were electrical and electronics products; transport equipment and other manufactures; as well as petroleum, chemical, rubber and plastic products.
The deterioration of the mining sector was due to the decrease in crude oil and condensate index; as well as natural gas index.
Busiunion
Busiunion