In April, manufacturing production contracted 0.3% over the same month last year. The reading follows on a 3.1% decline in March and contrasted market expectations, which had manufacturing production expanding 4.1%. The decline reflected a contraction in the electronics cluster, which dropped 12.5% year-on-year, which was the result of weaker demand abroad. The biomedical manufacturing cluster also posted a contraction by falling 4.2%. In contrast, the transport engineering cluster recorded the largest gain by increasing 29.1%. A month-on-month comparison further corroborates the notion of a decline. According to seasonally-adjusted data, in April manufacturing production dropped 3.5% over the previous month, which contrasted the 2.5% increase seen in March. Furthermore, annual average growth dropped from 4.5% in March to 4.0% in April.
Manufacturing production unexpectedly declines again in April
May 26, 2012
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Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
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.