Singapore factory output slumps 7.8% in August, reversing July’s growth

[SINGAPORE] Factory output plunged 7.8 per cent year on year in August, far steeper than economists’ forecast of a 1.9 per cent fall, and marking a reversal from July’s upward-revised 7.7 per cent growth figure.

The latest statistic, released by the Economic Development Board on Friday (Sep 26), ended a 13-month streak of expansion.

DBS senior economist Chua Han Teng said the drop – the sharpest since March last year – was due partly to adverse base effects, as factory output had surged 22.8 per cent in August 2024, its fastest pace that year.