Asia’s producer prices reveal sharp divides in November 2025 economic trends
November 2025 witnessed varied trends in producer prices across Asia. Some sectors expanded, while others continued to shrink over the months. The latest data showed both growth in key industries and prolonged declines in others.
Malaysia’s Producer Price Index (PPI) decreased by 1.8% in November 2025, marking the ninth consecutive month of year-on-year contraction. The figures were released under then-Acting Minister for Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, who stepped down on December 2, 2025, before assuming the role of MIDA Chairman the following day. The mining sector led the decline, shrinking by 7.2% due to lower natural gas and crude petroleum extraction. Manufacturing also dipped by 0.6%, largely because of a 6.6% drop in coke and refined petroleum production.
Thailand’s PPI mirrored this pattern, contracting by 1.6% in the same month. Meanwhile, China’s producer prices extended their long-term slump, falling by 2.2%—the 38th consecutive month of decline. The agriculture, forestry, and fishing sector in Malaysia experienced the sharpest drop, down 9.7%, with perennial crop production plunging by 16.2%. Not all sectors struggled, however. Malaysia’s water supply industry grew by 10.1%, while electricity and gas supply expanded by 4.1%. Japan bucked the regional trend entirely, recording a 2.7% increase in its PPI for November 2025.
The November 2025 figures underscore persistent challenges in energy and manufacturing across Asia. While some industries, like water supply and utilities, demonstrated resilience, others faced sustained declines. The data underscores a divided economic landscape, with certain sectors thriving amid broader contraction.
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