2021.01.2605:37:00UTC+00Singapore Industrial Production Growth Slows In December

Singapore's industrial production grew at a softer pace in December, data from the Economic Development Board showed on Tuesday.

Industrial output rose 14.3 percent year-on-year in December, after an 18.7 percent growth in November. Production was forecast to increase 11.5 percent.

Excluding biomedical manufacturing, industrial production grew 19.8 percent yearly in December, following a 14.0 percent increase in the preceding month.

On a monthly basis, industrial production rose 2.4 percent in December, slower than 7.5 percent gain in the previous month. Economists had expected a 0.6 percent fall.

Production of electronics surged 41.8 percent annually in December and that of chemical clusters rose by 12.3 percent. Precision engineering output gained 11.0 percent and general manufacturing increased 5.9 percent.

Meanwhile, biomedical manufacturing output declined 13.2 percent and transport engineering fell 31.5 percent.