Manufacturing in Singapore
Singapore - Manufacturing
Manufacturing production unexpectedly declines again in April
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.
Singapore - Manufacturing Data
|Manufacturing (annual variation in %)||-5.1||3.7||10.4||7.0||-1.5|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Manufacturing Chart
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.
|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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