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Malaysia manufacturing plunges 26.2% in April

Posted on: June 19, 2009


AFP – Friday, June 19

KUALA LUMPUR (AFP) – – Malaysia’s manufacturing sales, which are a key driver of the economy, sank 26.2 percent in April from a year earlier, according to official data which has been released.

The government’s statistics department attributed the sharp fall to the poor performance of the iron and steel sector and the computer industry amid lower demand due to the global economic slowdown.

The number of people employed in the manufacturing sector, which accounts for about a third of Malaysia’s gross domestic product, fell 7.7 percent from the same period a year ago, the department said on Thursday.

Revised March manufacturing figures showed sales were down 25.6 percent year-on-year.

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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