Malaysia’s IPI surged 9.3% in March from a year ago

Malaysia’s IPI surged 9.3% in March from a year ago

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Malaysia’s industrial production index (IPI) surged 9.3% in March 2021 from a year ago, exceeding a Bloomberg survey of an 8.7%.

As the growth was powered by the manufacturing and electricity segments. This was the strongest growth since July 2013.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth of IPI in March 2021 was driven by the manufacturing index which expanded by 12.7 and electricity index which increased by 10.3%.

However, he said the mining index dropped by 1.9%.

He said manufacturing output continued to expand in March 2021 after recording a growth of 4.5% in February.

The major sub-sectors contributing to the growth in manufacturing sector in March 2021 were transport equipment & other manufactures.

Petroleum, chemical, rubber & plastic products and electrical & electronics products.

Mohd Uzir said the export-oriented industries underpinned the growth of the manufacturing sector by 12.4% while domestic-oriented industries increased by 13.4%.

“The growth of the manufacturing sector was also driven by the high capacity utilisation rate especially in electrical & electronic products and petroleum, chemical, rubber & plastic products sub-sectors.

“In addition, the performance of the manufacturing sector also in line with the notable growth in exports and IPI for some of main trading partners of Malaysia,” he added.

As for the mining sector output dropped 1.9% in March 2021 as compared to the same period of the previous year.

The deterioration was due to the decrease in crude oil & condensate index. The natural gas index grew positively 4.3%.

However, the electricity sector output expanded by 10.3 % in March 2021 from a year ago.

For the first quarter, the IPI increased by 3.9% from a year ago.

The growth was due to the 6.8% expansion in the manufacturing index. The mining and electricity sectors recorded a deterioration of 4.1% and 0.1%.

Source: The Star

Singapore authorities prepare to resume activities

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More than 100 days after registering the first case of Covid-19, Singapore authorities are preparing to face this new phase where activities are expected to resume at different scales.

“We are looking at how we can safely resume our activities and reopen our economy ,” said Professor Tan Chorh Chuan, chief health scientist at the Ministry of Health and who is part of the team of medical and research experts on how the scenario could evolve and what answers should be provided according to what can be presented.

So far, the pandemic has caused more than 17 thousand infections and 17 deaths in the country, authorities will allow the opening of Chinese medicine clinics starting Tuesday, and residents will be able to play sports in their residential common areas, although the pools and gyms will continue to be closed.

Within this reactivation phase of activities, from May 12 it will also be allowed the opening of small businesses such as food stores, food stalls, hairdressers, and laundries.

Deputy Prime Minister Heng Swee Keat highlighted in an interview by The Sunday Times that many decisions are yet to be made and each one of them suggest a personal and economic cost which is however necessary to keep the situation under control as they start resuming activities.

“A critical part of our work is understanding the nature of this virus: how it is transmitted and how it invades the body and how it is evolving. As this virus moves quickly, it is important that we try to stay ahead of the curve.”

Heng assured that one of the greatest challenges facing the Asian nation is to find ways to stop the spread understand how the virus behaves and how it evolves while reactivating the economy is essential.