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Malaysia Industrial production April 2023

Malaysia: Industrial output drops at sharpest pace since July 2021 in April

Industrial output declined 3.3% compared to the same month a year earlier in April, which contrasted March’s 3.2% increase. The figure marked the worst reading since July 2021. Looking at the details of the release, April’s downturn was largely driven by a fall in manufacturing output. In addition, production contracted in both the mining and quarrying, and electricity and gas sub-sectors.

On a seasonally adjusted monthly basis, industrial production nosedived 5.6% in April (March: 0.0% mom), the worst result since April 2020. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.7%, down from March’s 6.3% reading.

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