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Financial News: Malaysia Industrial Production Plunges In April

Malaysia Industrial Production Plunges In April

06/11/2020 - 01:53:00 (RTTNews)

(RTTNews) - Malaysia's industrial production declined sharply in April due to the measures taken to prevent the spread of coronavirus, or Covid-19, pandemic, data from the Department of Statistics showed on Thursday.

Industrial production fell 32.0 percent year-on-year in April, following a 4.9 percent decrease in March. Economists had expected an 18.0 percent decline.

Manufacturing output declined 37.2 percent in April, following a 4.1 percent fall in the previous month.

Among other sectors, mining and quarrying output decreased 19.6 percent and electricity output fell 19.2 percent.

The Industrial Production Index is expected to improve in the coming months, as the government allowed more industries to resume operations in May, the agency said.

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