IPI edged up by 5.1% yoy in March
Malaysia’s industrial production index (IPI) edged up by 5.1% yoy in March, up from a 3.9% gain in the previous month. March’s IPI marked the seventh month of expansion since September 2021 while also the strongest growth in 3 months. The expansion of IPI was due to improvement in domestic demand and sustained external demand. The expansion in IPI for March 2022 was attributable to the improvement in the index of manufacturing (+6.9%) and electricity (+0.8%). Likewise, mining rebounded by 0.3% during the month, the strongest in 4 months.
On a monthly basis, the IPI rebounded by 8.6% in March, underpinned by all segments. The on-month expansion was attributable to a renewed global demand and diversion in demand amid war and China’s lockdowns. The positive growth was seen in electricity index (+13.0%), manufacturing (+8.5%), and mining output (+7.2%). In seasonally adjusted terms, IPI in March 2022 contracted by 0.7%. Both the mining index and electricity index contracted by 2.1% and 0.3%, respectively. On the back of sustained operational activities, manufacturing output expanded by 0.1%.
The IPI for 1Q 2022 grew by 4.5% yoy, following a rise of 6.9% in the previous quarter. This positive growth was attributable to the growth in manufacturing index (6.3%) and electricity index (3.7%). Meanwhile, mining index contracted 1.8%
Source: BIMB Securities Research - 11 May 2022
Created by kltrader | Jul 17, 2024
Created by kltrader | Jul 17, 2024
Created by kltrader | Jul 17, 2024