RHB | Malaysia | Industrial Production Eased And Manufacturing Sales Fell In April Post-GST

Economic Research	11 June 2015
Malaysia
Economic Highlights
Industrial Production Eased And Manufacturing Sales Fell In April Post-GST Industrial production eased to a growth of 4.0% y-o-y in April, from a revised +7.1% in March and compared with +5.2% in February. This suggests that industrial activities slowed in April in line with moderating demand post the implementation of the Goods and Services Tax (GST) on 1 April, as consumers take a breather after front loading their purchases. A sharp drop in exports during the month, also posed a drag on industrial activities. Given that the April’s industrial production came in broadly in line with our expectation, we are keeping our real GDP growth forecast unchanged at 5.0% for 2015 for the time being, slower than +6.0% in 2014. Economist:  Peck Boon Soon  | +603 9280 2163 Economist:  Vincent Loo Yeong Hong  | +603 9280 2172
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