1. Performance of Industrial Production Index

The Industrial Production Index (IPI) increased by 2.5% in May 2008 as compared with the same month in 2007, following a 4.8% expansion in April 2008. The expansion in May 2008 was contributed by increases in two components: Manufacturing index 4.0% and Electricity index 2.6%. The Mining index, however, shrank by 2.6%. On a month-on-month basis, the index was up 1.7%. The cumulative index for the first five months of 2008 registered a 5.0% increase over the corresponding period of last year.

2. Performance of Manufacturing Index

The Manufacturing index in May 2008 was 4.0% higher as compared to May 2007, while the month-on-month increase was 1.3%. The growth for January-May 2008 was 6.0% as compared with the same period of the previous year.The rise in the indices of 25 manufacturing groups out of a total of 38 groups covered accounted for the year-on-year increase. The Manufacture of motor vehicles grew 30.3%; Television, radio, sound or video recording or reproducing apparatus registered 26.4%; and Manufacture of crude palm oil recorded 20.7%.

3. Performance of Mining Index

The index of the Mining sector dipped 2.6% as compared with the same month of 2007. This was due to the decrease in the index of natural gas of 8.4%. The crude oil index however, edged up 1.0%. As compared with the previous month, the Mining index in May 2008 grew 2.8%. The cumulative growth for the period January-May 2008 was 1.6% over the comparative period of 2007.

4. Performance of Electricity Index

The Electricity index grew 2.6% year-on-year in May 2008. An increase of 3.1% month-on-month was recorded. The first five months of 2008 saw an increase of 4.0% compared to the same period in 2007.