Financial News: Singapore Industrial Output Surges 21.0%

Singapore Industrial Output Surges 21.0%

09/26/2024 - 03:12:00 (RTTNews)

(RTTNews) - Singapore's industrial production grew sharply in August on the back of the strong performance in the electronics cluster, preliminary data from the Economic Development Board revealed on Thursday.

Industrial production grew 21.0 percent year-on-year in August, following a 2.0 percent rebound in July. Economists had expected a 9.6 percent growth.

Excluding bio-medical manufacturing, industrial production jumped 27.5 percent annually in August versus a 3.6 percent rise in the prior month.

On a monthly basis, industrial production climbed 6.7 percent after rising 10.3 percent in July.

Among the major clusters, electronics output grew the most by 49.1 percent annually in August, supported by improved electronics demand as well as a low semiconductor production base in August last year.

Output produced in the chemical cluster was 11.1 percent higher, and the precision engineering output advanced by 7.9 percent.

Precision engineering output rose by 7.9 percent, while biomedical manufacturing output contracted by 16.1 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Unexpectedly Decreases In October (36 min(s), 29 sec(s) ago)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story»

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly (01 hr(s), 0 min(s),29 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In September (02 hr(s), 45 min(s), 29 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (02 hr(s), 48 min(s), 29 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (05 hr(s), 42 min(s), 29 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (06 hr(s), 36 min(s), 29 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (06 hr(s), 57 min(s), 29 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (07 hr(s), 19 min(s), 29 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»