Singapore’s manufacturing production jumped by 24.2% yoy in September 2020, far above market consensus of a 2.5% rise and after an upwardly revised 15.4% gain in August. It was the second straight yearly increase in factory output, and the strongest growth since December 2011 as production of biomedical manufacturing expanded faster (89.8% vs 12.2%), mainly due to pharmaceuticals (113.6%). Meanwhile, output continued to rise for electronics (30.1% vs 45.3%), mostly led by semi conductors (37.4%); and chemicals (0.4% vs 3.3%). In addition, output contracted much less for general manufacturing industries (-8.0% vs -17.8%). On the other hand, output of transport engineering continued to shrink (-35.8% vs -35.7%), while that of precision engineering dropped (-1.5% vs 12.2%), of which precision modules & components (-3.8%). On a monthly basis, production rose by 10.1%, missing market estimates of a 7.8% plunge, and after an upwardly revised 15.5% surge in August. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 6.79 percent from 1984 until 2020, 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 November of 2020.
Industrial Production in Singapore is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Singapore to stand at 6.00 in 12 months time. In the long-term, the Singapore Manufacturing Production is projected to trend around 6.00 percent in 2021, according to our econometric models.