
Singapore May manufacturing output down 10.8% y/y, below forecast

Asia
Singapore May manufacturing output down 10.8% y/y, below forecast
by DZRH News27 June 2023
FILE PHOTO: A view of the skyline in Singapore, January 27, 2023. REUTERS/Caroline Chia
SINGAPORE (Reuters) - Singapore's industrial output in May fell 10.8% year-on-year, the eighth consecutive contraction and below forecast, official data showed on Monday.
The fall was mainly due to a decline in output for electronics
Economists had expected a 7.4% year-on-year contraction in May, according to a Reuters poll.
On a month-on-month and seasonally adjusted basis, industrial production decreased 3.9% in May. Economists had forecast 1.7% growth.
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(Reporting by Chen Lin; Editing by Kanupriya Kapoor)
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