KUALA LUMPUR: Malaysia's Industrial Production Index (IPI) inched down by 0.3 per cent in August 2023 compared to the same month a year ago as export-oriented industries declined while the domestic-oriented ones continued to expand, the Department of Statistics Malaysia (DOSM) said. He attributed the drop to the manufacturing sector contracting 0.6 per cent in August versus the 0.2 per cent contraction in July 2023. However, he said August 2023’s IPI rose by 2.8 per cent when compared against July 2023, which saw a negative growth of 1.8 per cent. The mining sector, however, saw a marginal 0.1 per cent growth (July 2023: 4.2 per cent) while the electricity sector expanded by 1.9 per cent (July 2023: 1.5 per cent). August 2023 production rebounded to 5.1 per cent against the negative 4.3 per cent in July 2023.

Source: The Star October 12, 2023 12:10 UTC