Singapore Industrial Production Falls 4.9%

(RTTNews) - Singapore's industrial production declined for the ninth successive month in June, though at a slower rate, according to data from the Economic Development Board revealed on Wednesday.

Industrial production fell 4.9 percent year-on-year in June, following a 10.5 percent drop in May. Economists had expected a decrease of 6.8 percent.

Excluding biomedical manufacturing, industrial production slid 5.2 percent annually in June after a 13.1 percent fall in the previous month.

On a monthly basis, industrial production recovered strongly by 5.0 percent from May, when it decreased by 3.6 percent.

Among major clusters, output produced in the precision engineering segment fell the most, by 11.5 percent annually in June, followed by chemicals with an 8.6 percent decline.

General manufacturing output contracted 7.5 percent from last year, while that of transport engineering grew 10.8 percent.