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Malaysian Industrial Production Mixed in March

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Malaysian industrial production in February rose on year, but declined from January, the latter decline due to easing exports.

Malaysia's industrial production index rose 3.1% on year in February, but tumbled 9.2% from January, reported Malaysia's Department of Statistics (DOS).

The nation's manufacturing output rose 4.2% on year in February, while electricity production rose by 4.6% on year, and that of mining production fell by 2%, according to the DOS.

But output manufactured goods intended for export slid in February, from January.

"On a month-on-month basis, output of export-oriented industries in February decreased by 8.1%" from January, explained the DOS.

On year in February, Malaysian output of apparel fell 1.8% on year, while that of petroleum and related products fell 2.1% and that of transportation products declined 3.5%, reported DOS.

In contrast, output of electronic goods rose 12.9% on year in February, driven in part of production of semiconductors and other tech gadgets.

The official Malaysia February industrial production report was roughly in with recent manufacturing-sector purchasing manager index (PMI) reports from S&P Global.

Malaysia's manufacturing PMI for March rose to a seasonally adjusted 50.7, up from 49.3 in February, and striking above the 50-mark that separates growth from contraction, reported S&P Global.

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