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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April 23, 2021
Consumer prices increased 0.22% over the previous month in March, moderating from the 0.57% increase recorded in February.
April 16, 2021
Non-oil domestic exports (NODX) grew 12.1% year-on-year in March (February: +4.2% yoy).
April 14, 2021
The economy expanded 0.2% year-on-year in the first quarter according to an advanced estimate, marking a return to growth after three consecutive quarters of falling activity (Q4 2020: -2.4% yoy).
April 14, 2021
At its 14 April meeting, the Monetary Authority of Singapore (MAS) left its monetary policy unchanged at the level implemented at the outset of the Covid-19 pandemic in March 2020.
April 6, 2021
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors had divergent months in March, but both remained in expansionary territory as the two sectors continued to gradually recover after falling to the lowest levels in over a decade in April 2020 due to the coronavirus pandemic. The manufacturing PMI rose slightly to 50.8 in March from 50.5 in February, thus moving further above the 50-point threshold that separates expansion from contraction in the sector and marking the ninth consecutive month of expansion in the manufacturing sector.