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22.4 percent year-on-year in July, official data showed Thursday.
The government's statistic department attributed the sharp fall to
the poor performance of the iron and steel sector as well as the
computer industry, amid lower demand due to the global economic
slowdown. The number of people employed in the manufacturing sector,
which accounts for about a third of Malaysia's gross domestic
product, dropped 7.4 percent from the same period a year ago, the
department said. Revised June manufacturing figures showed sales
plunged 25.3 percent year-on-year. The government has said the
export-dependent economy is likely to contract by 4.0-5.0 percent
this year due to the drop-off in exports and manufacturing.
