Growth led by man­u­fac­tur­ing and min­ing ac­tiv­i­ties, re­ports Sta­tis­tics De­part­ment

New Straits Times - - Business - RUPA DAMODARAN KUALA LUMPUR bt@me­di­

MALAYSIA’S In­dus­trial Pro­duc­tion In­dex (IPI) rose 4.6 per cent in March com­pared with the same pe­riod a year ago, led by pos­i­tive growth in man­u­fac­tur­ing and min­ing ac­tiv­i­ties.

The man­u­fac­tur­ing in­dex rose 5.9 per cent and the min­ing in­dex rose two per cent.

The elec­tric­ity in­dex, how­ever, de­clined 0.2 per cent.

The Sta­tis­tics De­part­ment said elec­tri­cal and elec­tron­ics prod­ucts, which rose 8.5 per cent, con­trib­uted to man­u­fac­tur­ing ac­tiv­i­ties, while wood prod­ucts, fur­ni­ture, pa­per prod­ucts and print­ing rose 10.3 per cent.

Min­ing sec­tor out­put was driven by a sus­tained in­crease of 7.9 per cent in the nat­u­ral gas in­dex.

Al­liance Re­search said the drag in the crude oil pro­duc­tion sub­sec­tor, from -2.6 per cent to -4.7 per cent in March, could be a rea­son for the weak min­ing sec­tor per­for­mance.

“Mov­ing for­ward, the strong ex­ports trend wit­nessed in the first quar­ter, es­pe­cially in elec­tri­cal and elec­tronic goods ship­ments, will likely sup­port man­u­fac­tur­ing in­dex growth, and there­fore, steady IPI growth is ex­pected in the com­ing months,” said the re­search house.

It said given the man­u­fac­tur­ing sec­tor’s strong per­for­mance in the first quar­ter of the year (three month mov­ing av­er­age of 5.7 per cent), first-quar­ter gross do­mes­tic prod­uct growth could have strength­ened to 4.7 per cent.

Man­u­fac­tur­ing ac­tiv­ity recorded strong growth of 13.6 per cent, ris­ing to RM65.9 bil­lion com­pared with RM58 bil­lion re­ported a year ago.

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