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Industrial Production Lowest July 2021

MYR

April Industrial Production printed at -3.3%, well below the estimated +2.0% gain, this was the lowest print for the measure since July 2021. We are well off the heady levels of Q3 last year, above 13% y/y. Weakness was broad based, with manufacturing IP m/m slumping -11.4%. Manufacturing Sales Value fell 2.0% in Apr down from the prior read of 8.0%.

  • There has been little reaction in USD/MYR prints at 4.6110/30 unchanged from prior to the print. The pair sits ~0.2% above opening levels.

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