Tài Xỉu（www.84vng.com）:IPI up 13.6% in August, better than forecast
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KUALA LUMPUR: The country’s industrial production index (IPI) soared 13.6% in August 2022 as compared to the same month of the previous year, exceeding the forecasts by Reuters.
According to 12 economists surveyed in a Reuters poll, August’s IPI was expected to expand 9.5%.
According to the Statistics Department (DOSM), the expansion of IPI in August was contributed by the manufacturing (15.2%), electricity (10.0%) and mining (8.0%) sectors.
“The main subsectors that contributed to the growth in the manufacturing sector in August 2022 were electrical & electronics products (19.2%), transport equipment & other manufacturing products (53.6%) and non-metallic mineral products, basic metal & fabricated metal products (13.6%),” it said.
The department said the growth in the mining sector was spearheaded by the increment of 8% in the natural gas index and crude oil & condensate index respectively.
Meanwhile, the growth of the manufacturing sector was driven by both domestic-oriented industries (22.5%) and export-oriented industries (12.4%).
“The IPI in the period of January to August 2022 recorded an expansion of 7.5% as compared to the same period of the previous year. This increment was supported by the manufacturing index (9.6%), electricity index (6.5%) and mining index (0.2%),” DOSM said.