Singapore Manufacturing Output Hits 4-Month Low

Singapore’s manufacturing production grew by 7.2% year-on-year in June 2026, slowing sharply from an upwardly revised 17.8% increase in the previous month. This marked the weakest annual growth since February, as output growth eased in electronics (21.3% vs 49.2% in May), driven by slower expansion in semiconductors (21.1% vs 53.3%) and infocomms and consumer electronics (32.1% vs 59.2%). Overall manufacturing output was also weighed down by slower growth in precision engineering (14.9% vs 30.5%) and a sharp contraction in general manufacturing industries (-6.8% vs 1.4%). In addition, output continued to decline in chemicals (-11.7% vs -11.4%). On the other hand, transport engineering (4.6% vs -4.9%) rebounded. On a seasonally adjusted monthly basis, manufacturing output fell 7.2%, reversing an upwardly revised 6.9% gain in May. Considering the first half of the year, manufacturing output increased 9.9% from the same period a year earlier.

Singapore's manufacturing production grew by 13% year-on-year in May 2026, slowing from a downwardly revised six-month high of 16.5% in the previous month and missing market expectations of 17%. Output increased at a slower pace in electronics (35.8% vs 40.3% in April), particularly semiconductors (37.0% vs 43.5%) and infocomms & consumer electronics (59.2% vs 76.0%). Overall manufacturing output was also weighed down by a continued decline in biomedical manufacturing (-24.2% vs -16.1%), a contraction in transport engineering (-5.0% vs 10.8%), and a sharp moderation in general manufacturing industries (1.8% vs 17.7%). On the other hand, output fell at a softer pace in chemicals (-11.5% vs -17.6%), while growth in precision engineering accelerated (32.2% vs 16.4%). On a monthly basis, manufacturing production fell 0.7%, reversing an upwardly revised 6.2% increase in April. For the January–May period, manufacturing production rose 10.7%.

Singapore's manufacturing production surged 17.6% year-on-year in April 2026, accelerating from a downwardly revised 9.2% in the previous month and comfortably beating market expectations of 12%. It marked the strongest growth since October 2025, driven by a significant increase in electronics output (44.0% vs 29.0% in March), particularly semiconductors (42.6% vs 29.4%) and infocomms and consumer electronics (129.6% vs 72.1%). Overall factory activity was further supported by stronger growth in precision engineering (15.1% vs 8.8%), transport engineering (10.1% vs 3.7%), and general manufacturing industries (16.9% vs 8.1%). In contrast, production continued to contract in biomedical manufacturing (-16.1% vs -14.0%) and chemicals (-17.6% vs -15.2%). On a monthly basis, industrial production climbed to a six-month high of 5.8% from a downwardly revised 3.5% gain in March, above market forecasts of 1.5%. For the January–April period, industrial production increased 10.2%.