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Update Malaysia's April IPI up 4.2% on year, below forecast
by Cals Thu 12 Jun 2014, 03:00
| Update Malaysia's April IPI up 4.2% on year, below forecast |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Wednesday, 11 June 2014 12:49 KUALA LUMPUR (June 11): Malaysia's industrial production index (IPI) rose 4.2 % on year in April, on output growth in manufacturing, mining and electricity, according to the Statistics Department. In a statement today, the department said manufacturing output rose 4%, mining was up 4.7% while electricity production climbed 3.9%. Year-to-date, the IPI rose 4.6% compared with the same period last year, on growth in all three components of the index. Manufacturing and mining output rose 6.2% and 0.7% respectively while electricity production increased 4.2%. Month-on-month, the IPI climbed 3.6% from March 2014, on increases in manufacturing and mining although the electricity component fell. In March 2014, the IPI grew 4.3% year-on-year. April's IPI growth of 4.2% came on an increase in manufacturing output for items like electrical and electronic and wood products, besides food and beverage. For the mining sector, the rise in crude oil and natural gas output contributed to mining production growth. The April IPI number came in below consensus median forecast. Reuters had reported that Malaysia's April factory output, as measured by the Industrial Production Index, likely rose 5.1 percent from a year earlier, based on a poll of 14 economists. |
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