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Malaysia manufacturing sinks in January

Posted on: March 20, 2009


AFP – Friday, March 20

KUALA LUMPUR, March 19, 2009 (AFP) – Malaysia’s manufacturing sales, which are a key driver of the economy, sank 22.7 percent in January from a year earlier, according to official data released Thursday.

The government’s statistics department attributed the sharp fall to the poor performance of the computer industry and the iron and steel sector.

The number of people employed in the manufacturing sector, which accounts for about a third of Malaysia’s gross domestic product, fell 9.0 percent from the same period a year ago, the department said.

Malaysian industrial output plunged 20.2 percent year-on-year in January as the manufacturing, mining and electricity sectors suffered a decline.

The government last week unveiled a stimulus package worth 16.2 billion dollars but warned the export-driven economy could still shrink by 1.0 percent this year despite the massive spending.

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