Malaysia

August 2008 | Risk Summary

Latest data has revealed that while manufacturing sales rose 14.8% y-o-y (1.7% m-o-m) in May, driven by higher demand for petroleum products and iron and steel products, employment in the sector contracted by 1.4% y-o-y (0.7% m-o-m). Sales totaled MYR48.7bn (US$15.1bn), while the total number of employees in the manufacturing sector fell to 1,092,410. Record high commodity prices have kept the sector well supported in the first half of 2008, but with demand for manufactured goods continuing to soften in line with slowing global growth, downside risks persist as we head into H208.

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