Singapore's July Manufacturing Output Down 13.2%

ByBridgeNews Singapore's July manufacturing output fell 13.2% from a year earlier, following a revised 16.2% annual contraction in June, the Economic Development Board (EDB) said Aug. 27. This was below analysts' expectation of a 17% contraction in July. The July decline reflected another sharp fall in electronics output, down 32.7% on the year. On a cumulative basis, output declined 5.2% for the first seven months, compared with the same period last year. The June contraction had originally been reported at 16.1%. The EDB said that the plunge in electronics output reflect the persistent slump in global demand. All major segments were adversely affected as the lack of orders dampened output.