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Malaysia: April Industrial output drop 11.4%

Posted on: June 12, 2009


AFP – Wednesday, June 10

KUALA LUMPUR (AFP) – – Malaysian industrial output slid 11.4 percent year on year in April as weak exports caused a drop in the manufacturing, mining and electricity sectors, official data has shown.

The industrial production index fell 0.3 percent compared to the previous month, the government’s statistics department said in a statement.

Manufacturing tumbled 15.7 percent in April compared to a year ago, largely due to a sharp fall in demand for electrical and electronics products amid the economic downturn.

Mining and electricity both fell 2.9 percent from a year earlier due to lower prices of crude oil.

Revised figures showed industrial output sank 12.7 percent in March, as poor global economic conditions hit Malaysia’s key exports and industrial production, in turn squeezing the labour market and private sector activity.

Malaysia has said its economy is likely to contract by 4.0-5.0 percent this year, despite a massive 16.2 billion dollar stimulus package unveiled in March, after the economy shrank 6.2 percent in the first quarter.

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