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Economy And The Numbers

Singapore Industrial Output Falls 3.1%

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Singapore's industrial production declined for the third straight month in December, largely due to a slump in the bio-medical manufacturing output, data from the Economic Development Board revealed on Thursday.

Industrial production dropped 3.1 percent year-on-year in December, slower than the 3.8 percent fall in November. Economists had expected a fall of 6.9 percent.

Excluding bio-medical manufacturing, industrial production rebounded 0.3 percent annually in December, following a 5.8 percent fall in the previous month.

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