Economists cut Singapore growth forecast after factory output dives 12.1% in August
Add BT as a preferred source
SINGAPORE’S factory output fell a surprising 12.1 per cent year on year in August, contracting at a faster rate than in July, as the sector was dragged down by a plunge in electronics output.
Excluding the biomedical sector, which is typically volatile, factory output slipped 13.3 per cent, data from the Singapore Economic Development Board showed on Tuesday (Sep 26).
Singapore’s factory output has stayed in contraction territory for the past 11 months, with August being the weakest year-on-year reading since November 2019.
TRENDING NOW
DeepSeek founder Liang Wenfeng becomes the world’s richest AI model creator
A new kind of ‘ceasefire’ between US and Iran where talks, strikes are part of the same process
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Family businesses fail when members overstep their roles
