Singapore factory output growth slows sharply to 3.4% in September, missing forecasts
Electronics growth slows while biomedical manufacturing contracts
Singapore's factory output growth decelerated significantly to 3.4% year on year in September, falling short of market expectations and marking a stark contrast to the 15.4% expansion witnessed in August. The slowdown was primarily driven by subdued electronics production and a contraction in biomedical manufacturing. Excluding the volatile biomedical sector, output rose 9% year on year, down from the revised 16.8% expansion in August.
On a seasonally adjusted monthly basis, output declined 3.9% in September, contrasting with August's revised 1% contraction.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
