KONTAN.CO.ID - SINGAPORE. Singapore's industrial output in August fell 12.1% year-on-year, contracting for an 11th consecutive month and more steeply than expected, mainly due to a slump in electronics, official data showed on Tuesday. Economists had expected a 3.1% year-on-year contraction in August, according to a Reuters poll. On a month-on-month and seasonally adjusted basis, industrial production fell 10.5% in August, missing economists' expectation of a 1.7% contraction. Electronics, a key contributor to Singapore's industrial output, plunged 20% year-on-year in August, data from the Singapore Economic Development Board showed, reflecting faltering global demand.
Singapore Aug Manufacturing Output Dives 12% y/y, More than Expected
KONTAN.CO.ID - SINGAPORE. Singapore's industrial output in August fell 12.1% year-on-year, contracting for an 11th consecutive month and more steeply than expected, mainly due to a slump in electronics, official data showed on Tuesday. Economists had expected a 3.1% year-on-year contraction in August, according to a Reuters poll. On a month-on-month and seasonally adjusted basis, industrial production fell 10.5% in August, missing economists' expectation of a 1.7% contraction. Electronics, a key contributor to Singapore's industrial output, plunged 20% year-on-year in August, data from the Singapore Economic Development Board showed, reflecting faltering global demand.