KUALA LUMPUR: Slowing export growth and fears of a global recession are raising concern over softening demand in the country's electronics manufacturing sector.
There have been softer macro readings in recent data released by the National Statistics Department including lower year-on-year (y-o-y) manufacturing production growth of 6.5% in April, as compared with 6.9% in March.
On a monthly seasonally adjusted basis, manufacturing recorded a 0.3% y-o-y contraction.
According to Hong Leong Investment Bank (HLIB) Research, the moderation in manufacturing production mainly stemmed from the slowdown in the export-oriented sector, consistent with softer exports growth during the month.
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