On Friday, the Economic Development Board (EDB) said April’s manufacturing output shrank 0.3% from a year ago, after a revised 3.1% drop in March.
This poor showing surprised economists, whose consensus forecast was for manufacturing to grow 4.1% and could not be blamed entirely on the 7.6% fall in volatile pharmaceuticals output. The poor showing is because of falling demand from key markets such as Europe and the US especially for electronics.
Thailand has reported a surprise fall in its exports for April because of falling demand from key markets such as Europe and the US. Shipments fell 3.7% from a year earlier. Many analysts had forecast an increase of more than 3% http://www.bbc.co.uk/news/business-18203209. Remember that Thailand has replaced S’pore as the world’s manufacturing hub for hard disks.
Expect weak manufacturing numbers for M’sia. It too is a big manufacturer of electronics for export. And Najib is planning an election later this yr.