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Singapore Manufacturing Output Growth Eases Sharply In December

Singapore's manufacturing output growth slowed drastically in December to its weakest pace in three months, led by steep declines in manufacturing, precision engineering and electronics, figures from the Economic Development Board showed on Friday.

Industrial production climbed 2.7 percent year-on-year in December. This was slower than the 7.6 percent increase seen in November. Economists had expected a growth rate of 4.0 percent.

The pace of growth was the weakest since September's 0.4 percent increase.

Among clusters, the precision engineering fell the most by 8.7 percent followed by 6.8 percent fall on electronics, general manufacturing by 5.7 percent and chemicals by 1.4 percent.

Biomedical manufacturing logged the biggest year-on-year gain of 29.9 percent, followed by transport engineering with a 23.7 percent rise.

On a seasonally adjusted basis, manufacturing output fell 5.6 percent month-on-month, following a 3.1 percent rise in November. Economists had forecast a fall of 4.9 percent.

Excluding biomedical production, manufacturing output fell 1.8 percent year-on-year in December after a 5.6 percent increase in November. On monthly basis, the manufacturing output fell 6.7 percent after a rise of 0.1 percent in December.

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