| Update May industrial output falls 11.1% on-yr |
| Business & Market 2009 | |||
| Written by Joseph Chin | |||
| Thursday, 09 July 2009 12:25 | |||
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KUALA LUMPUR: The industrial production index (IPI) in May fell 11.1% from a year ago as the manufacturing sector contracted 15.2%, according to the Statistics Department. The drop in May 2009 was due to the decreases in manufacturing (15.2%), mining (3.0%) and electricity (2.1%), it said on July 9. “Month-on-month, the IPI increased 1.6%. The cumulative index for the period of January-May 2009 declined 13.2% as against the same period in 2008,” it said. The department said May manufacturing output shrank 15.2% from a year ago. Output for April 2009 fell 16.1% (revised) from a year ago. “As compared with the preceding month, the output for May 2009 increased 1.6%. The growth for the first five months of 2009 was lower by 17.5% as compared with the same period of last year,” it said. The manufacturing output contracted due to decreases in the electrical and electronics products segment (down 31.9%); non-metallic mineral products, basic metal and fabricated metal products (down 17.3%); and petroleum, chemical, rubber and plastic products (down 4.2%). As for the mining sector, output fell 3.0% in May from a year ago due to a decline in the index of crude oil (down 3.2%) and natural gas index (down 2.5%). When compared with April, mining output increased 2.4%. For the January-May period, the mining sector recorded a decline of 4.4% from the previous corresponding period. The department said electricity output declined 2.1% in May 2009 from a year ago. But compared with April, the electricity output rose 3.9%. A decrease of 6.4% was registered in the period of January-May 2009 from the previous corresponding period.
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