Highlights

Bimb Research Highlights

Author: kltrader   |   Latest post: Fri, 19 Feb 2021, 5:16 PM

 

Economics - IPI contracts for second straight month in November

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  • IPI shrank 2.2% yoy in November
  • Declined in IPI for November dragged by the mining and electricity index
  • Manufacturing output registered slower growth
  • Manufacturing sales increased in November
  • Productivity slowed to 4.5% yoy in November
  • Global industrial production weakened amid resurgence of COVID-19 cases
  • Production will be affected by more stringent MCOs

IPI shrank 2.2% yoy in November

Industrial production (IPI) shrank 2.2% yoy in November following a 0.5% decline a month earlier. This was the second straight month of decline in industrial output, and the steepest fall since May, amid the coronavirus pandemic. Production of mining shrank faster and electricity output fell.

On monthly basis, the IPI in November decreased 1.7%. Based on month-on-month comparison, the declined in IPI for November was due to the reductions in all subindices; mining (-0.7%), electricity (-6.0%) and manufacturing (-3.0%). In a seasonally adjusted terms, IPI in November showed a downturn of 1.0%. The decrease was due to the decline in all indices; electricity index (-2.5%), mining index (-2.2%) and manufacturing index (-0.2%).

The IPI in the period January to November 2020 recorded a decline of 4.8% cent as compared to the same period of the previous year. This decrease was due to the reduction in all indices; mining index (-10.1%), electricity index (-4.0%) and manufacturing index (-3.3%).

Source: BIMB Securities Research - 12 Jan 2021

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