♦ Industrial production bounced back to increase by 14.1% yoy in March, after slowing down to +4.8% in February and compared with +13.8% in January, as workers returned to work after the Chinese New Year festive celebration. In view of the stronger-than-expected growth in exports and industrial output during the quarter as well as the proposed RM12bn supplementary budget, we are revising upward our real GDP forecast for 2010 to 6.4%, from +4.5% projected previously and compared with -1.7% in 2009. The pick-up in March’s output was reflected in higher manufacturing production and electricity output. These were aided by a smaller decline in mining production.
Economic Highlights - Industrial Production Rebounded In March, Real GDP Grew Strongly In The 1Q - 12/5/2010
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