Singapore’s Factory Output Shrinks By Worse-Than-Expected 3.2% in November

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Singapore’s Factory Output Shrinks By Worse-Than-Expected 3.2% in November

The Business Times2022-12-23

Singapore’s factory output contracted 3.2 percent on the year in November, registering another month of decline after October’s revised 0.9 percent decrease, according to data from the Singapore ...

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DunTellU
·2022-12-23
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They are the latest in a weakening manufacturing outlook, with Singapore’s purchasing managers’ index posting a second consecutive month of contraction in October.In November, the linchpin electronics cluster recorded a 12.4 percent contraction year on year, worsening from the 0.7 percent contraction in the month before and marking the fifth straight month of decline. The cluster was dragged down by declines in most segments on the back of softening demand.The other electronic modules and components segment shrank most significantly (-21.6 percent), followed by semiconductors (-14 percent) and infocomms and computer electronics (-12.1 percent). Computer peripherals and data storage, the only segment that grew, was up 9.3 percent.Output also fell year on year for the chemicals cluster, which was down 11.3 percent. 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