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Industrial production in Malaysia dropped 5.7% on a yearly basis in August, following a revised 8.1% fall in the previous month, the Department of Statitics said Monday. Economists expected a 6% fall. Industrial output has been falling continuously since September last year, although the pace of decline has slowed further for the fifth consecutive month.
On an annual basis, mining output slipped 5.5%, and manufacturing output was down 6.6%. However, electricity production rose 3.9%.
Month-on-month, industrial output declined 1.1%, reversing three consecutive months of rises. In July, the output was up 7.4%. The fall reflected a 5.8% fall in mining output and a 0.8% drop in electricity production. However, manufacturing output rose 1%.
For the first eight months of the year, industrial output declined 11.2% compared to the same period last year.
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