Malaysia’s producer price index (PPI) stumbled by -2.9% yoy in November after an increase of 0.7% yoy in the previous month. It was the highest drop since February 2018 (-3.4%). The decline in producer inflation for the month of November was mainly dragged by manufacturing and agriculture, forestry & fishing which fell by 1.8% yoy (Oct: -0.7%) and 22.7% yoy (Oct: -17.6%) respectively. The manufacturing sector posted negative growth for eleven straight months. Meanwhile, agriculture, forestry & fishing sector, which have been declining since November last year, marked the highest decrease in November 2018. Furthermore, there was a significant slowdown of production cost in mining sector as in November, it only grew by 4.5% yoy after seven months of double-digit growth.
On monthly basis, PPI for local production declined 2.8% in November from 0.3% increase in the preceding month. The contraction in November was pulled down by mining (-16.4%) and agriculture, forestry & fishing (-6.4%).
Source: BIMB Securities Research - 2 Jan 2019
Created by kltrader | Sep 24, 2024
Created by kltrader | Sep 11, 2024