Malaysia's Industrial Production Index Rises 5% in August
MT Newswires Live
Yesterday
Malaysia's Industrial Production Index (IPI) rose 5% year over year in August, according to data released on Friday by the Department of Statistics Malaysia (DOSM).
The sentiment index rose from the 4.7% increase recorded the previous month, reflecting positive momentum in the manufacturing and electricity sectors that offset steep declines in the mining industry.
Manufacturing output grew 7.4% from last year, while electricity climbed 9%. Meanwhile, mining declined 7.4% from 18.3% growth last year, hurt by lower crude oil and natural gas production.
Within manufacturing, output was largely supported by double-digit percentage gains in volumes of electrical and electronics products.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.