Singapore manufacturing falls most in eight months

25 Dec, 2009

Singapore's manufacturing fell the most in eight months in November as output of pharmaceuticals plunged by more than half. Industrial production dropped 8.2 percent from a year earlier following a 3.2 percent increase in October, the Trade and Industry Ministry said in a statement Thursday.
Pharmaceuticals, which are subject to big month-to-month swings in production and account for about a fifth of Singapore's industrial output, slid 53 percent, the ministry said. Electronics, which is about a fourth of manufacturing, rose 18 percent last month, while chemicals production gained 17 percent.
The island's economy expanded an annualised 14.2 percent in the July to September period, a second straight quarter of growth after a year of contraction. The government expects the economy to shrink up to 2.5 percent this year and grow between 3 percent and 5 percent next year. Manufacturing in November fell a seasonally adjusted 3.6 percent from October for a fourth month of decrease.

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