The Malaysian Insider, 27 Feb 2009
SINGAPORE, Feb 27 — Industrial output in January fell 29.1 per cent from a year ago, the largest plunge recorded so far.
This was worse than economists' consensus forecast of a 24.3 per cent decline, and follows a revised year-on-year decline of 12.8 per cent in December.
Releasing preliminary figures yesterday, the Economic Development Board attributed the manufacturing output decline to “the global economic downturn and Chinese New Year festivities”, which fell in January this year versus February last year, as several plants shut down over the holidays.
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