Singapore's manufacturing rose by 1.1 per cent year on year in January, undershooting analysts' expectations for a 3.7 per cent expansion, as the key electronics sector retreated.
Excluding biomedical manufacturing, manufacturing output expanded by 5.4 per cent and, separately, December's overall 2.5 per cent contraction was revised marginally lower to 2.4 per cent, according to statistics released by the Economic Development Board on Feb 26.
Among the electronics segments, only infocommunications and consumer electronics registered an expansion, posting a 23.8 per cent jump. It was not enough to overturn the overall 3.4 per cent decline in the sector.
The semiconductors segment, which accounts for the bulk of Singapore's electronics output, slid 3.4 per cent; computer peripherals and data storage fell 20.1 per cent; and other electronic modules and components saw a 9.5 per cent decline.
Overall, the electronics sector accounts for 45 per cent of Singapore's total manufacturing production.
Also dragging the manufacturing sector lower was the biomedical sector, as it dropped by 25.9 per cent on a year-on-year basis, largely on the back of a 43.7 per cent fall in pharmaceuticals amid a change in the mix of active pharmaceutical ingredients being produced from a year ago.
Denne historien er fra February 27, 2024-utgaven av The Straits Times.
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Denne historien er fra February 27, 2024-utgaven av The Straits Times.
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