KUALA LUMPUR – The producer price index’s (PPI) local production increased 2.7% last month from the -0.1% logged in January, the first positive shift after experiencing negative growth for 11 straight months since last March.
“The index for agriculture, forestry and fishing increased to 35% from 22.6% the previous month. The indexes for manufacturing and water supply increased 1.5% and 0.8%, respectively,” said Chief Statistician Datuk Seri Mohd Uzir Mahidin in a statement today.
The mining index logged a negative change of 11% from the -28.3% registered in January, while the electricity and gas supply index saw a decrease of 1.9%, similar to the previous month.
On a monthly basis, PPI’s local production showed a jump of 1.5% in February, lower than the 2% recorded the previous month.
The manufacturing, and agriculture, forestry and fishing sectors increased with a slower growth of 0.5% (1.3% in January) and 2.2% (3% in January), respectively.
The mining sector, however, recorded a higher growth of 12.9% compared with 11.3% a month ago.
Electricity and gas supply, too, recorded a positive growth of 0.3% (-0.1% in January).
Meanwhile, the index for water supply slipped 0.4%.
The Statistics Department reported that PPI’s local production year-on-year for all stages of processing recorded an increase in February.
A higher increase was recorded by crude materials for further processing with a growth of 10% (-3.4% in January).
Concurrently, the indexes for intermediate materials, supplies and components, and finished goods increased 1.5% and 0.4%, respectively. – Bernama, March 31, 2021
.jpg)
