Malaysia's IPI Up 3.6 Pct In Nov 2024 – DOSM

KUALA LUMPUR, Jan 10 (Bernama) -- The Industrial Production Index (IPI) increased by 3.6 per cent year-on-year in November 2024, driven by sustained output growth in the manufacturing sector, according to the Department of Statistics (DOSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the IPI maintained its positive growth momentum for the eleventh consecutive month in November 2024.

"The expansion was supported by the manufacturing sector, which expanded by 4.6 per cent (October 2024: 3.3 per cent), coupled with the rise of 3.9 per cent in electricity output (October 2024: 1.9 per cent).

“However, the mining sector production remained on a downward trend, albeit with a smaller negative growth of -0.8 per cent in November 2024 (October 2024: -2.8 per cent),” he said.

He said that month-on-month, the IPI grew 0.5 per cent from 1.7 per cent in October 2024.

Mohd Uzir said that the output for the export-oriented industries -- which accounted for two-thirds of the manufacturing sector -- expanded by 5.6 per cent in November 2024, compared to 3.3 per cent in the previous month.

“Nevertheless, the domestic-oriented industries continued to grow modestly at 2.6 per cent after registering a growth of 3.3 per cent in October 2024.

“At the same time, the mining sector’s production edged down by 0.8 per cent, influenced by a decline in the crude oil and condensate index which dropped by -3.8 per cent (October 2024: -7.5 per cent), while the natural gas index increased by 1.2 per cent (October 2024: 0.4 per cent),” he added.

-- BERNAMA