What was the performance of the mining sector in May compared to April?

Question

Accepted Answer

Mining Sector Output Declined in May After April Growth

Malaysia's mining sector experienced a significant downturn in May 2024, with output plummeting by 6.9 per cent. This sharp decrease stands in stark contrast to the robust performance observed in April 2024, when the sector recorded double-digit growth of 10.0 per cent.
May Saw a Significant Output Drop

The Department of Statistics Malaysia reported that the mining sector's output contracted by 6.9 per cent in May 2024. This marked a substantial reversal from the preceding month.
April Recorded Double-Digit Growth

In April 2024, the mining sector had shown considerable strength, achieving a growth rate of 10.0 per cent. This positive momentum was not sustained into May.
Overall Industrial Production Remained Positive

Despite the decline in the mining sector, Malaysia's overall Industrial Production Index (IPI) continued to show positive year-on-year growth, rising by 2.4 per cent in May 2024. This was primarily supported by steady output increases in the manufacturing and electricity sectors.

Reading history

Hide →

This history is cleared when the page is closed.

What was the performance of the mining sector in May compared to April?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends