| BREAKING NEWS | Former inspector general of police (IGP) Tun Mohammed Hanif Omar died at 2.15 am today - Son | Bekas Ketua Polis Negara (KPN) Tun Mohammed Hanif Omar meninggal dunia pada 2.15 pagi tadi - Anak | |
STRONG REBOUND IN IPI REFLECTS FURTHER RESUMPTION OF ECONOMIC ACTIVITY - RHB RESEARCH
KUALA LUMPUR, Aug 7 -- The strong rebound of Malaysia’s Industrial Production Index (IPI) in June reflected the further resumption of economic activity under the Recovery Movement Control Order, said RHB Research.
Production "potentially” also took advantage of pent-up demand, which was expected to be temporary, the research house said.
“Growth, however, was still well below the pre-pandemic average of around 3.5 per cent y-o-y (2016-2019), with much of it being dragged by a relatively weaker rebound in oil and gas production,” it said in a note.
Earlier today, the Department of Statistics Malaysia (DoSM) reported that the IPI in June, which shrank 0.4 per cent year-on-year (y-o-y), surged 26.2 per cent from May after the government allowed more industries to resume operations from May onwards. In May, the IPI fell 22.1 per cent y-o-y.
DoSM said the slight y-o-y drop in June IPI was due to the decline in the mining index (-17.1 per cent) and electricity index (-2.4 per cent), while the manufacturing index increased 4.7 per cent.
He said the increment of IPI in June 2020 was due to an increase in all indices, with manufacturing index rising 36.8 per cent, mining index 2.4 per cent and electricity index 0.2 per cent.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
