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Macroeconomic indicators - Malaysian industrial output to drop further

It is reported that Malaysia's industrial output is forecast to decline further in March but is seen stabilizing over the coming months as forward looking indicators in China and the United States stabilize.

According to economists polled by StarBiz, Malaysia's industrial production index would show a contraction year on year due to lower demand. The IPI declined by 14.7% YoY in February and fell a revised 19.8% in January. In February, the manufacturing sub index fell by 18.8%, mining down by 7.3% and electricity declined 3%.

CIMB Investment Bank Bhd has forecast the industrial output to decline 17.1% in March with the manufacturing sub index contracting 22.7%. Mr Suhaimi Ilias chief economist at Maybank Investment Bank Bhd said that factory orders were not visible until this month. He added that "Things only improved in April based on comments by the Federation of Malaysian Manufacturers and by port operators, who saw an increase in volume."

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