Malaysia's Industrial Output Drops 20.2%

As manufacturing, mining and electricity sectors suffered a decline, Malaysian industrial output plunged 20.2% year-on-year in January.

The industrial production index also slipped 4.5%, the national statistics department said.

Manufacturing tumbled 26.7% in January compared to a year ago, mining fell 6.1% as the prices of crude oil and gas declined, and electricity generation lost 12.4%.

Industrial output sank 15.6% in December 2008, as the global recession began to bite, suppressing demand for exports of manufactured goods.

Malaysia on March 10 unveiled a stimulus package worth $16.2 billion but warned the export-driven economy could still shrink by 1% this year despite the massive spending.

Copyright Agence France-Presse, 2009