Singapore Feb Industrial Production Falls More Than Forecast

Singapore Feb Industrial Production Falls More Than Forecast

24 March 2016, 07:18
Roberto Jacobs
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Singapore Feb Industrial Production Falls More Than Forecast

Singapore's industrial production decreased at a faster-than-expected pace in February, after rising slightly in the previous month, preliminary figures from the Economic Development Board showed Thursday.

Industrial production fell 4.7 percent year-over-year in February, exceeding economists' expectations for a 1.5 percent fall.

In January, production had risen 0.1 percent, which was revised from a 0.5 percent decline reported earlier.

Excluding biomedical manufacturing, output dipped 7.4 percent February from a year ago.

Among components, output of the transport engineering cluster plunged 14.5 percent annually in February and that for electronics cluster slipped by 8.4 percent.

Similarly, output of the precision engineering cluster dropped 7.5 percent and the general manufacturing cluster's output went down by 0.3 percent.

At the same time, the chemical cluster's output grew 1.2 percent in February from a year ago and the output of the biomedical manufacturing cluster expanded by 5.8 percent.

On a monthly basis, industrial production slid a seasonally adjusted 4.8 percent in February, reversing a 9.9 percent surge in January. It was expected to fall only by 0.7 percent.

The material has been provided by InstaForex Company - www.instaforex.com

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