Malaysia: Industrial production drops for the first time in more than two years
June 9, 2011
In April, industrial production declined 2.2% over the same month last year, which represented the first negative figure since November 2009. The reading was below the revised 2.9% increase recorded in March (previously reported: +2.4% year-on-year) and contrasted expectations that had seen industrial output expanding 2.5%. The decline in industrial output was the result of disrupted trade across the region in the wake of Japan's Tohoku earthquake and was mostly evident in the manufacturing sector, which accounts for nearly two thirds of total output. That said, all other sub-components of the industrial production index also registered losses. Owing to the negative outturn, the annual average growth in industrial production slowed further from 5.5% in March to 4.4% in April.