24 Jun '11, 9pm

May factory output slumps 17.5%: SINGAPORE - The Republic's manufacturing sector contracted 17.5 per cent last m...

SINGAPORE - The Republic's manufacturing sector contracted 17.5 per cent last month from May a year earlier, the largest fall in two years and more than twice the consensus expectations of an 8.7 per cent fall, according to data released yesterday by the Economic Development Board. May was also the second month of contraction after output in April dropped by 9.5 per cent year-on-year. The drop in manufacturing numbers was mainly due to a 43.2 per cent contraction in the pharmaceutical segment, which in turn pulled down the biomedical cluster, where output fell 42.1 per cent. This was attributed to a change in the output mix, which suggests that cheaper goods were being produced last month. UOB economist Chow Penn Nee said: "So far, the April and May manufacturing numbers have come in much weaker than expected. This would translate into weak manufacturing growth for the sec...

Full article: http://www.todayonline.com/Business/EDC110625-0000123/May...

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Singapore's May industrial output down 17.5% on-year

Singapore's May industrial output down 17.5% on...

channelnewsasia.com 24 Jun '11, 5am

SINGAPORE: Singapore's industrial output continued its downward trend last month, as demand for semiconductors eased and p...