KUALA LUMPUR (Aug 9): Malaysia’s industrial production index (IPI) rose 12.1% year-on-year (y-o-y) in June 2022, supported by growth across all three components of the IPI, according to the Department of Statistics Malaysia (DOSM).

In a statement on Tuesday (Aug 9), the DOSM said the manufacturing output component rose 14.5%, the electricity sector increased 14.1% while the mining segment grew 2.1%.

In monthly terms, the DOSM said Malaysia's IPI grew 9.6% in June 2022 from May 2022.

Compared to a year earlier, the IPI rose 12.1% in June 2022 versus the 4.1% y-o-y growth in May 2022, according to the department.

The IPI's 12.1% y-o-y rise in June 2022 is significantly above a consensus forecast for a y-o-y growth of 4.9% based on a Reuters survey.

"Malaysia's industrial production in June (2022) rose 12.1% from a year earlier, above forecast, government data showed on Tuesday.

"June's industrial production was expected to rise 4.9%, according to 12 economists surveyed in a Reuters poll," Reuters reported on Tuesday.