Singapore’s manufacturing output decreased by 0.8% y-o-y in October, the first contraction since September 2021.
The y-o-y contraction was due to declines in the electronics, chemicals and the biomedical manufacturing clusters, which fell by 0.7%, 9.7% and 14.5% y-o-y respectively.
The decline in electronics were due to the fall in computer peripherals & data storage and other electronic modules & components segments on the back of softening demand and offset by the growth in the infocomms & consumer electronics and semiconductors segments.
