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Singapore's manufacturing output moderates further to 0.5% in August

Felicia Tan
Felicia Tan9/26/2022 01:00 PM GMT+08  • 6 min read
Singapore's manufacturing output moderates further to 0.5% in August
Excluding biomedical manufacturing, August’s output fell by 1.2% y-o-y. Photo: Bloomberg
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Singapore’s manufacturing output increased by 0.5% y-o-y in August, moderating from the 2.2% growth seen in June and the 0.6% growth in July.

Despite the figure, which marked the slowest y-o-y growth since September 2021, August’s figure marks an improvement in m-o-m terms after two straight months of contraction. The y-o-y growth also surprised Bloomberg’s forecast for a 0.7% contraction print.

The main drags during the month were due to the electronics and chemical clusters, which registered y-o-y declines of 7.8% and 11.2% respectively. These were mitigated by the y-o-y growths seen in the rest of the clusters.

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