CLICK TO ENLARGEPETALING JAYA: Manufacturing sales rose 12.9% year-on-year (y-o-y) in October 2022 to RM158.9bil according to the Statistics Department in its release of monthly manufacturing statistics for the first month of the final quarter. The department said the gain was in line with the acceleration in growth of external trade exports and price increases. “On the other hand, sales value in domestic-oriented industries recorded an increase of 4.7%, moderating from the 13.9% growth registered in the previous month. “In comparison with September 2022, the sales value for export-oriented industries declined by 2.9% while domestic-oriented industries posted an increase of 1.6%,” said the report. Cumulatively, for the period of January to October 2022, the sales value of the manufacturing sector saw a 17.1% jump to RM1.49 trillion as compared to the corresponding period of 2021.

Source: The Star December 12, 2022 23:50 UTC