Malaysia's April factory end result plunges 32% on-year, worst on record
12 June, 2020
Malaysia's industrial production index plunged 32 % in April from a good year before, its biggest drop on record, government info showed on Thursday, hit by a good sharp decline found in activity because of coronavirus curbs.
The figure was almost double the drop of 18 % forecast by analysts surveyed by Reuters and steeper when compared to a decline of 17.6 % in January 2009, then your biggest recorded fall, Refinitiv Eikon info shows. In March, the index had fallen 4.9 %.
The index measures factory output from the making, mining and electricity generation sectors.
All three key sectors tracked by the index posted declines found in April, with manufacturing end result falling 37.2 % from a year earlier, the Figures Department said found in a statement.
Electricity output fell 19.2 % on-year, as the mining sector index was down 19.6 %, department data showed.
Malaysia's exports tumbled 23.8 per cent in April from a year earlier, for the steepest fall in ten years, as the pandemic disrupted global source chains, government info showed last week.
Source:
TAG(s):