Singapore Industrial Production Tumbles 9.2%

Singapore's concern accumulation declined astatine the fastest gait successful 7 months successful March, information from the Economic Development Board revealed connected Friday.

Industrial accumulation declined 9.2 percent year-on-year successful March, reversing 4.4 percent maturation successful February. The expected autumn was 1.5 percent.

Further, this was the steepest driblet since August 2023, erstwhile accumulation had risen 12.9 percent.

Excluding bio-medical manufacturing, concern accumulation contracted 5.9 percent annually successful March aft a 2.0 percent summation successful the erstwhile month.

On a monthly basis, concern accumulation decreased sharply by 16.0 percent successful March, aft a 14.6 percent beardown betterment successful the anterior month.

Among the large clusters, accumulation successful the biomedical engineering conception declined the astir by 34.3 percent annually successful March, followed by electronics output with a 11.3 percent drop. Meanwhile, output produced successful the chemicals conception showed an summation of 4.2 percent.

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