MPI data for July dipped by -5.3% YoY (vs. -7.7% prev) but rose +2.6% MoM sa. Major improvement was seen in the outputs of vehicles, chemicals, and food & beverages. Petroleum production further increased on the low base effects.
On the other hand eight out of 12 key industries saw production declines with export-oriented industries witnessing the largest contraction: TV & radio, IC and semiconductors, and HDD.
Note that the capacity utilization rate (CAPU) saw the first rise in five months, up 1.5ppt to 58.3 sa.