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Updated Thursday, June 11, 2009 10:51 am TWN, AFP Malaysia's April industrial output drops 11.4 percentThe 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 labor 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 US$16.2 billion stimulus package unveiled in March, after the economy shrank 6.2 percent in the first quarter. Subscribe to The China Post and save 25%. Click here |
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