In February, manufacturing output increased 12.1% over the same month last year, which contrasted the 9.6% contraction tallied in January (previously reported: -8.8% year-on-year). The reading, however, came in below of market expectations that had manufacturing production rising 18.4%. The rebound was supported by the biomedical cluster, which surged 38.3% in February on the back of robust growth in medical technology as well as in the highly volatile pharmaceutical sector. Meanwhile, the electronics cluster remained in the red, despite a boost stemming from the recovery after the floods in Thailand. A month-on-month comparison, however, does not corroborate the improvement suggested by the annual figures, as manufacturing production declined 1.1% in February, which contrasted the 2.4% increase seen in January. Nevertheless, annual average growth inched up from 4.9% in January to 5.0% in February.
Manufacturing production recovers in February
March 26, 2012
Looking for forecasts related to Industry in Singapore? Download a sample report now.
Singapore Economic News
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.
September 23, 2016
In August, consumer prices increased 0.5% compared to the previous month, contrasting the 0.3% decrease recorded in July.