Singapore's industrial production declined in August on sharp contraction in biomedical manufacturing, the Economic Development Board said Friday.
Manufacturing output shrank 7.8 percent in August from a year ago, offsetting July's 7.7 percent increase. Output was expected to drop only by 2.5 percent.
Excluding biomedical manufacturing, production was down 2.9 percent, in contrast to the 10.1 percent increase in the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.