Singapore Oct factory output rises at slower pace of 1.2%

Republic expected to gain from US' higher China tariffs as production shifts to region

- Timothy Goh

Singapore's manufacturing output rose for a fourth straight month in October, albeit at a slower pace of expansion.

Total output crept up 1.2 per cent year on year, after a downwardly revised 9 per cent rise in September and a hefty 22.9 per cent jump in August.

The growth was also below forecast, with economists in a Bloomberg poll tipping 2.6 per cent.

Excluding the more volatile biomedical industry, output increased by just 0.4 per cent, according to data from the Economic Development Board on Nov 26.

On a seasonally adjusted month-on-month basis, factory production edged up 0.1 per cent. Excluding biomedical manufacturing, it dropped 1.9 per cent.

The electronics industry, which accounts for nearly half of Singapore's manufacturing output, saw an increase of 4.3 per cent year on year, higher than the revised 0.9 per cent rise in September.

Within the cluster, semiconductor production grew 2.1 per cent. Other electronic modules and components rose 11.9 per cent, while computer peripherals and data storage expanded 22.9 per cent, and infocomms and consumer electronics added 20.3 per cent.