MALAYSIA’S industrial production index (IPI) rose 1.2% in July from a year earlier, recovering after four straight months of declines amid the coronavirus crisis, government data showed today.
The index measures factory output from the manufacturing, mining and electricity generation sectors.
Output in July beat the 0.9% annual growth forecast by analysts surveyed by Reuters, and was up from the 0.4% drop in June.
July’s increase in the index was driven by growth in the manufacturing sector, which rose 2.9% year-on-year, the Statistics Department said in a statement.
However, mining and electricity output were down 3% and 5.1% respectively, data from the department showed.
Malaysia’s exports rose unexpectedly in July, growing 3.1% from a year earlier on higher shipments of manufactured goods and agricultural commodities. – Sept 11, 2020
