Singapore Output Shrinks 13.5% in December

Jan. 21, 2009
However the biomedical sector increased 24.5%

In its third straight month of contraction Singapore's manufacturing output shrank 13.5% in December from a year ago, the government said on Jan. 21.

On a seasonally adjusted month-on-month basis, output fell 11% and overall production last year dropped 4.1% from the previous year, the Economic Development Board said.

A 35.1% drop in electronics output led last month's fall, data showed. Electronics shipments comprise about 40% of Singapore's key exports, and a slump in global demand for consumer electronics globally has hit the city-state's factories severely.

For other industries, preliminary data showed chemical output down 23.3%, precision engineering off 21.1%, although transport engineering rose 2.2% and biomedical grew 24.5%.

The manufacturing data was released on the same day the government downgraded its 2009 economic forecast to a contraction of between 2% and 5%, reflecting a sharper deterioration in the global economic environment.

Singapore is in its worst-ever recession, the trade ministry said, with economic contractions in the last three quarters of 2008.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!