Manufacturing still has important role: MTI
Its productivity growth is ahead of others; study shows it has greater spillover effects on economy than services
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
DESPITE manufacturing's prolonged decline, the sector is still important to the Singapore economy, said a senior government official, even as the Ministry of Trade and Industry (MTI) released data showing that manufacturing contracted more than expected in the fourth quarter.
The 6.7 per cent year-on-year contraction is sharper than the 6 per cent official estimate that MTI had given in January based on October and November data. This follows a 6 per cent year-on-year decline in Q3.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
