November’s industrial output exceeds forecast at 5% – Business News


KUALA LUMPUR: Malaysia’s industrial output, as measured by the industrial production index (IPI) increased by 5% in November 2017, exceeding economists forecast of a 4.6% rise.

According to a statement from the Statistics Department, the increase in November was supported by the growth in all indices – manufacturing (6.7%), mining (0.2%) and electricity (3.9%).

On a year-on-year basis, the output of the manufacturing sector in November increased strongly by 6.7% after registered an increase of 4.2% in October 2017. 

The Statistics Department said the major sub-sectors which recorded an expansion in November 2017 were petroleum, chemical, rubber and plastic products (7.5%), electrical and electronic products (6.9%) and food, beverages and tobacco products (8.2%).

The mining sector output grew by 0.2% in November 2017 (October 2017: 0.8%), mainly due to the increase of crude oil index (0.3%). Natural gas index decline 0.01% while the electricity sector output expanded 3.9% in November 2017 on yearly basis.

Read more : thestar

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