Singapore Industrial Output Growth Slows to 3.4 Percent
Singapore's industrial manufacturing output grew 3.4 percent in September, a sharp decline from August's 15.4 percent growth driven by a contraction in biomedical manufacturing.
Industrial manufacturing output in Singapore grew by 3.4 percent year-on-year in September, marking a significant moderation from the 15.4 percent growth recorded in August. Data released by the Economic Development Board shows that the slowdown was primarily driven by a 32.8 percent contraction in biomedical manufacturing, which resulted from a shift in the mix of active pharmaceutical ingredients and softer export demand for medical technology.
On a seasonally adjusted month-on-month basis, output fell 3.9 percent. The chemicals sector also experienced a decline of 4.6 percent, attributed to lower fragrance production and disruptions in feedstock supply.
Other sectors provided a counterbalance to the decline. Precision engineering saw a 31 percent increase fueled by the production of semiconductor equipment, while transport engineering grew by 10.6 percent due to strong aerospace demand.
