Singapore Industrial Output Growth Eases In May

(RTTNews) - Singapore's industrial production growth moderated in May after accelerating in the previous two months, preliminary data from the Economic Development Board revealed on Friday.

Industrial production advanced 13.0 percent year-on-year in May, slower than the 16.5 percent growth in April. The expected increase was 17.0 percent.

Among clusters, electronics output grew the most by 35.8 percent from last year, led by the infocomms and consumer electronics and semiconductors segments, on the back of robust AI-related demand.

Precision engineering output was 32.2 percent higher, and the general manufacturing output increased by 1.8 percent.

On the other hand, chemical output fell sharply by 11.5 percent, led by lower production in the petroleum and petrochemical segments, due to disruptions in feedstock supply. Transport engineering output dropped 5.0 percent, and the biomedical manufacturing output contracted sharply by 24.2 percent.

Excluding biomedical manufacturing, total industrial production grew 17.7 percent annually in May versus 20.2 percent growth a month ago.