2022.12.2306:03:00UTC+00Singapore Industrial Output Contracts Further

Singapore's industrial production declined for the second straight month in November, and at a faster-than-expected pace, data from the Economic Development Board revealed on Friday.

Industrial production dropped 3.2 percent year-on-year in November, faster than the 0.9 percent fall in October. Economists had expected a fall of 1.1 percent.

Excluding biomedical manufacturing, industrial production decreased 4.8 percent annually in November, reversing a 2.2 percent gain in the previous month.

On a monthly basis, industrial production decreased 1.2 percent in November, reversing a 0.6 percent increase in the prior month.

Among major clusters, electronics output plunged 12.4 percent in November, and the chemical cluster logged a decline in output of 11.3 percent.

Meanwhile, transport engineering output advanced 18.8 percent yearly in November, and that of general manufacturing also showed a double-digit growth of 10.3 percent.