Highlights

Bimb Research Highlights

Author: kltrader   |   Latest post: Tue, 17 Nov 2020, 5:57 PM

 

Economics -IPI Grow At A Slower Pace In August

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  • IPI slows to 0.3% yoy in August
  • Growth in IPI led by manufacturing component, while the mining and electricity segments showed a decrease
  • Slower growth in manufacturing sales
  • Productivity slows to 4.3% yoy
  • Growth in global semiconductor sales continue in August
  • Global production recovery continues as IPI signal upturn
  • Industrial production will continue to recover supported by growing domestic spending and increased trade activities

IPI slows to 0.3% yoy in August

Industrial production (IPI) rose by 0.3% yoy in August, slowing from a 1.2% yoy growth a month earlier, amid ongoing COVID-19 pandemic. Growth in IPI for August was led by a rise in the manufacturing component, while the mining and electricity segments showed a decrease.

On monthly basis, the IPI in August declined 1.2%. Based on month-on-month comparison, the weakening of IPI in August was due to the increase in the index of manufacturing (-1.9%). On the other hand, the mining and electricity segments showed increases of 0.3% mom and 2.9% mom respectively. In a seasonally adjusted terms, IPI in August recorded a deterioration of 0.5% due to the decline in manufacturing index of 0.8%. However, the mining and electricity index recorded an increase of 3.9% and 2.8% respectively.

The IPI in the period January to August 2020 recorded a decline of 6.4% as compared to the same period of the previous year. This deterioration was due to the decrease in all indices; mining index (-9.4%), manufacturing index (-5.6%) and electricity index (-5.0%).

Source: BIMB Securities Research - 13 Oct 2020

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