Highlights

Bimb Research Highlights

Author: kltrader   |   Latest post: Wed, 14 Oct 2020, 5:45 PM

 

Economics - IPI Returns To Positive Growth In July

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  • IPI rebounded strongly at 1.2% yoy in June
  • IPI improved on sustained growth in manufacturing output
  • Manufacturing sales moderated in July
  • Productivity slows to 4.5% yoy
  • Global semiconductor sales increase increased in July as most major regional markets post sales increases
  • Global production recovering as IPI for many countries showed improvements
  • Moderate recovery for industrial production in the near term

IPI rebounded strongly at 1.2% yoy in July

Industrial Production Index (IPI) rose by 1.2% yoy in July, shifting from a 0.4% fall a month earlier. This was the first growth in industrial output since February, as the country emerged gradually from the Covid-19 shocks following the loosening of the movement control orders. The overall increased in the IPI was mainly supported by sustained growth in manufacturing output.

On monthly basis, the IPI in July increased 1.2%. Based on month-on-month comparison, the improvement of IPI in June was due to the increase in all indices; index of manufacturing (0.2%), index of electricity (4.2%) and index of mining (4.4%). In a seasonally adjusted terms, IPI in July recorded an increase of 0.8% due to the improvement in mining index of 6.8%. However, the manufacturing and electricity index recorded a decrease of 1.1% and 1.0% respectively.

The IPI in the period January to July 2020 recorded a decline of 7.4% as compared to the same period of the previous year. This decreased was due to the deterioration in all indices; mining index (-9.7%), manufacturing index (-6.8%) and electricity index (-5.6%)

Source: BIMB Securities Research - 14 Sept 2020

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