KUALA LUMPUR, March 31 ― The Producer Price Index (PPI) local production increased 2.7 per cent in February 2021 compared with -0.1 per cent in January 2021, the first positive shift after experiencing negative growth for 11 consecutive months since March 2020.
“The Index of Agriculture, forestry & fishing continued to increase 35.0 per cent compared to 22.6 per cent in the previous month. The Index of Manufacturing and Water supply increased 1.5 per cent and 0.8 per cent, respectively,” Department of Statistics Malaysia chief statistician Datuk Seri Mohd Uzir Mahidin said.
The index of Mining recorded a negative change of 11 per cent, improved from -28.3 per cent in January 2021, while the Index of Electricity & Gas Supply recorded a decrease of 1.9 per cent, similar to the previous month, he said in a statement here, today.
On a monthly basis, the PPI local production showed an increase of 1.5 per cent in February 2021, lower than 2.0 per cent recorded in the previous month. The manufacturing and agriculture, forestry & fishing sector increased with slower growth of 0.5 per cent (January 2021: 1.3 per cent) and 2.2 per cent (January 2021: 3.0 per cent), respectively.
However, the mining sector recorded a higher growth of 12.9 per cent compared to 11.3 per cent a month ago. Electricity & gas supply also recorded a positive growth of 0.3 per cent (January 2021: -0.1 per cent). Meanwhile, the index of Water supply decreased 0.4 per cent.
The DOSM also reported that the PPI local production year-on-year for all stages of processing recorded an increase in February 2021.
A higher increase was recorded by crude materials for further processing with a growth of 10.0 per cent (January 2021: -3.4 per cent). Concurrently, the index of intermediate materials, supplies & components, and finished goods increased 1.5 per cent and 0.4 per cent, respectively. ― Bernama
Source: Malay Mail
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