Malaysia's industrial output drops 14.7 percent (reuter)

Malaysian industrial output dropped 14.7 percent year-on-year in February amid declines in the manufacturing, mining and electricity sectors, according to official data released Thursday. Manufacturing tumbled 18.8 percent in February compared to a year ago, mining fell 7.3 percent amid lower crude oil and gas prices while electricity generation fell by 3.0 percent. Revised figures showed industrial output plunged 19.8 percent in January as demand for exports of manufactured goods dropped significantly amid a worsening global economic downturn. Last month, Malaysia unveiled a stimulus package worth 16.2 billion dollars but warned the export-driven economy could still shrink by 1.0 percent this year despite the massive spending.