Singapore's manufacturing production unexpectedly rose by 0.5% yoy in August 2022, beating market consensus of a 0.6% drop and following a 0.8% gain in July. While growing for the 11th straight month, the latest print was the softest pace in the sequence, amid the impact of the COVID-19 hit. Growth was mainly supported by the output of biomedical manufacturing (11.1% vs -10.5% in July), led by pharmaceuticals; transport engineering (32.8% vs 19.2%), driven by marine & offshore, and aerospace; general manufacturing (18.8% vs 15.1%), due to food, beverages, and miscellaneous; and precision engineering (2.9% vs 13.7%), linked to machinery. By contrast, production fell for both electronics (-7.8% vs -5.9%), linked to semiconductors, other electronic modules, and communications; and chemicals (-11.2% vs 5.7%), attributed to petrochemicals, specialties, and others. On a monthly basis, manufacturing output grew by 2.0%, the first increase in three months, and was above consensus of 1.5%. source: Singapore Economic Development Board

Industrial Production in Singapore averaged 7 percent from 1984 until 2022, reaching an all time high of 58.60 percent in May of 2010 and a record low of -32.30 percent in March of 2009. This page provides the latest reported value for - Singapore Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

Industrial Production in Singapore is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Manufacturing Production is projected to trend around 2.00 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Singapore Manufacturing Production



Calendar GMT Actual Previous Consensus TEForecast
2022-08-26 05:00 AM Jul 0.6% 2.6% 5.3% 3.7%
2022-09-26 05:00 AM Aug 0.5% 0.8% -0.6% -0.4%
2022-10-26 05:00 AM Sep 0.5% 0.2%


Related Last Previous Unit Reference
Industrial Production Mom 2.00 -2.10 percent Aug 2022
Industrial Production 0.50 0.80 percent Aug 2022

Singapore Manufacturing Production
In Singapore, industrial production measures the output of businesses integrated in the manufacturing sector of the economy.
Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.80 58.60 -32.30 1984 - 2022 percent Monthly
2015=100, NSA

News Stream
Singapore Manufacturing Unexpectedly Rises
Singapore's manufacturing production unexpectedly rose by 0.5% yoy in August 2022, beating market consensus of a 0.6% drop and following a 0.8% gain in July. While growing for the 11th straight month, the latest print was the softest pace in the sequence, amid the impact of the COVID-19 hit. Growth was mainly supported by the output of biomedical manufacturing (11.1% vs -10.5% in July), led by pharmaceuticals; transport engineering (32.8% vs 19.2%), driven by marine & offshore, and aerospace; general manufacturing (18.8% vs 15.1%), due to food, beverages, and miscellaneous; and precision engineering (2.9% vs 13.7%), linked to machinery. By contrast, production fell for both electronics (-7.8% vs -5.9%), linked to semiconductors, other electronic modules, and communications; and chemicals (-11.2% vs 5.7%), attributed to petrochemicals, specialties, and others. On a monthly basis, manufacturing output grew by 2.0%, the first increase in three months, and was above consensus of 1.5%.
2022-09-26
Singapore Manufacturing Growth Slows
Singapore's manufacturing production rose by 0.6% yoy in July 2022, missing market consensus of 5.3% and after an upwardly revised 2.6% gain in June. While growing for the 10th straight month, the latest print was the softest pace in the sequence, amid the impact of the COVID-19 hit. There were falls in the output of both electronics (-6.3% vs 2.3% in June), dragged down by consumer electronics and computers; and biomedical manufacturing (-10.8% vs -9.5%), linked to pharmaceuticals. At the same time, production of transport engineering slowed sharply (18.6% vs 32.6%), due to marine & offshore. Meanwhile, output growth accelerated for both precision engineering (13.9% vs 7.9%), led by machinery); and general manufacturing (14.6% vs 10.4%), driven by food, and beverages; while chemical output rebounded (5.7% vs -10.3%), led by petroleum. On a monthly basis, manufacturing output unexpectedly shrank 2.3%, the 2nd straight month of drop, and after a downwardly revised 8.0% fall in June.
2022-08-26
Singapore Manufacturing Growth Below Estimates
Singapore's manufacturing production rose by 2.2% yoy in June 2022, missing market estimates of 6% and slowing sharply from an upwardly revised 10.4% gain in April. While expanding for the ninth straight month, the latest print was the softest pace since January, amid the impact of COVID-19 hit. Output of electronics were sluggish (2.3% vs 22.9% in May), linked to semiconductors; and those of general industries slowed (10.2% vs 11.3), mostly due to food, beverages & tobacco. In addition, production fell faster for both biomedical engineering (-9.2% vs -5.1%), driven by pharmaceuticals; and chemicals (-11% vs -3.3%), dragged down by petroleum and petrochemicals. In contrast, output growth accelerated for both precision engineering (5.6% vs 4%), led by machinery; and transport engineering, due to marine & offshore, aerospace, and land. On a monthly basis, manufacturing output shrank 8.5% in June, the first drop in three months, and swinging from a downwardly revised 9.2% gain in May.
2022-07-26