Chart of the Day: Check out how petrochemicals spoiled the pharmaceuticals surge in NODX

Petrochemicals shipment tumbled to 11 months of decline.

A 0.7% rebound in non-electronic NODX shipment seems nice to hear, but it underlies the fact that pharmaceuticals almost single-handedly propped it up by jumping 44.6%.

If it weren’t for the segment, NODX would decline by 5.1% yoy, according to analysts from Maybank Kim Eng.

The robust growth of pharmaceuticals was also bottlenecked by an almost equally large dip in petrochemicals, which dipped by 9% this month, the latest installment of its almost one-year decline.

Meanwhile, electronic shipments reported a contraction of 3.2%, dragging ICs shipments by 7.4%, its first month of decline after expanding by seven months.

“This was compounded by the continuous weakness registered by ‘Parts of IC’s’ (Oct 2015: -32.2% YoY; Sep 2015: -65.1% YoY) and ‘Parts of PC’s’ (Oct 2015: - 12.2% YoY; Sep 2015: -11.9% YoY),” Maybank Kim Eng said.

“However, there were some bright spots within the sector with strong shipment growth of ‘Telecom Equipment’ (Oct 2015: +42.3% YoY; Sep 2015: +76.8% YoY) and ‘Other Computer Peripherals’ (Oct 2015: +83.6% YoY; Sep 2015: +64.0% YoY),” they added.