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IPI falls 22.1% in May

09 Jul 2020 / 12:30 H.

PETALING JAYA: The Industrial Production Index (IPI) has tumbled 22.1% yeay-on-year (yoy) in May compared with the same month of the previous year, due to the significant decline in all indices; index of manufacturing (-23.2%), index of mining (-22.2%) and index of electricity (-10.3%).

“The IPI surged 18.2% in May 2020 as compared with the previous month since the government allowed more industries to resume operations in May 2020. Based on month-on-month comparison, the increment of IPI in May 2020 was due to the increase in all indices; index of manufacturing (25.9%), index of electricity (13.7%) and index of mining (0.4%),” said chief statistician Datuk Seri Mohd Uzir Mahidin.

The output of the manufacturing sector in May 2020 contracted 23.2% on a year-on-year basis after recording a 37.2% decline in April 2020.

The main sub-sectors contributing to the decrease in the manufacturing sector in May 2020 were non-metallic mineral products, basic metal and fabricated metal products (-45.1%), transport equipment and other manufactures (-38.5%) and petroleum, chemical, rubber and plastic products (-24.3%).

The output in the mining sector dropped 22.2% yoy in May 2020, due to the decrease in crude oil and condensate index (-22.2%) and natural gas index (-22.2%).

The output in the electricity sector decreased 10.3% in May 2020 as compared to the same month of the previous year.

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