Monday, July 11, 2011

May IPI down 5.1% on-yr, fell 1.3% on-month

KUALA LUMPUR: Malaysia's industrial production index (IPI) in May decelerated sharply, down 5.1% on-year, weighed down by the sharp decline in the mining sector despite a marginal increase in the manufacturing sector.

The Statistics Department said on Monday, July 11 the April IPI was revised to a negative 1.7% on-year.

'The decline in May 2011 was due to the decreases in the MINING INDEX [] (20.1%) and electricity index (1.6%). The manufacturing index posted an increase of 0.6%.

'Month-on-month, the IPI decreased 1.3%. The IPI for the period of January-May 2011 recorded a positive growth of 0.2% as compared with the same period of 2010,' it said.

It said the data showed May manufacturing output inched up 0.6% on-year. Output for April 2011 rose 0.3% (revised) on-year.

As compared with April, output for May 2011 increased 2.4%. The growth for the first five months of 2011 increased 3.7% from the previous corresponding period.

The increase in the manufacturing output in May 2011 was due to the positive growth in non-metallic mineral products, basic metal and fabricated metal products (21.2%); food, beverages and tobacco (10.3%); and wood products, furniture, paper products and printing (7.0%).

The department said the mining sector's output decreased 20.1% in May from a year ago as the crude oil index fell 24.2% and natural gas index (10.7%).

When compared with April, the mining output fell 12.2%. For January to May, the mining sector declined 7.8% on-year.

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