Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the contraction was due to the base effect and lower prices of primary commodities.
He said the downward trend was mainly due to the decline in agriculture, forestry and fishing, and mining sectors.
"At the same time, the mining index slipped 6.5 per cent mainly due to a 16.1 per cent drop in the extraction of crude petroleum index,” he said in a monthly report today. He said that for the utility sector, the water supply index rose 3.7 per cent and the electricity and gas supply index inched up one per cent.
Commenting on the PPI by stage of processing, Mohd Uzir said the index of crude materials for further processing continued to slide 16.9 per cent in February 2023 due to a 20.3 per cent decline in non-food materials.
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