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Singapore's manufacturing sector contracts in September after 10-month growth streak

Amala Balakrishner
Amala Balakrishner10/26/2021 03:37 PM GMT+08  • 4 min read
Singapore's manufacturing sector contracts in September after 10-month growth streak
The decline was no thanks to a shrinkage in the output of the biomedical segment.
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Singapore’s manufacturing sector broke its 10-month growth streak in September with a 3.4% contraction, no thanks to a shrinkage in the output of the biomedical segment.

The latest showing is a turnaround from August’s 11% expansion, and is more severe than the median decline of 0.9% forecast by private-sector analysts in a Bloomberg poll.

Excluding contributions from the biomedical segment, manufacturing output widened to 9.4% y-o-y, according to data released by Singapore’s Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry (MTI).

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