|24 January, 2020

Singapore factory output falls in December, but at slower pace  

On a month-on-month and seasonally adjusted basis, industrial production rose 4.1% in December

A tourist bum boat passes by the Marina Bay Sands hotel in Singapore July 3, 2019. Picture taken on July 3, 2019. Image used for illustrative purpose.

A tourist bum boat passes by the Marina Bay Sands hotel in Singapore July 3, 2019. Picture taken on July 3, 2019. Image used for illustrative purpose.

REUTERS/Lim Huey Teng

SINGAPORE  - Singapore’s industrial output fell slightly in December, as widely expected, although the decline was as not as steep as the previous month, data showed on Friday.

Manufacturing output in December fell 0.7% from a year earlier, data from the Singapore Economic Development Board showed, compared with a upwardly revised 8.9% decline in November. The median forecast in a Reuters poll predicted a 0.8% fall.

On a month-on-month and seasonally adjusted basis, industrial production rose 4.1% in December, after a upwardly revised 8.4% decrease in the previous month. The median forecast was for a 3.7% increase.

Pharmaceutical production increased 6.9% in December from a year earlier and precision engineering output rose 7.0%.

Electronics manufacturing rose 0.2%.

Reporting by Aradhana Aravindan in Singapore; Editing by Kim Coghill

© Reuters News 2020

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