Singapore's manufacturing output declined 2.5% YoY in December, led by a 23.9% drop in biomedical manufacturing; electronics output grew 6.3%.

Singapore's manufacturing output declined 2.5% year-on-year in December, reversing the 1% growth recorded in November, according to the Economic Development Board. Biomedical manufacturing saw a 23.9% decrease, driven by a 45% drop in pharmaceutical production. In contrast, electronics output grew 6.3% due to a 17.7% rise in the semiconductors segment. However, Singapore's overall industrial production increased by 0.5% annually for December when excluding biomedical manufacturing.

January 26, 2024
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