シンガポール - 工業生産

Singapore’s manufacturing output unexpectedly rose by 4.0 percent year-on-year in October 2019, easily beating market expectations of a 1.7 fall and after an upwardly revised 0.7 percent gain in the previous month. This was the steepest yearly growth in industrial production since November last year, as output expanded further for both precision engineering (3.4% vs 4.6% in September) and biomedical manufacturing (24% vs 23.4%), while there was a rebound in both electronic output (0.4% vs -8.9%) and general manufacturing industries (7.3% vs -7%). In contrast, declines were seen in production of both transport engineering (-2.4% vs 3.2%) and chemicals (-9.6% vs -4%). On a monthly basis, manufacturing production unexpectedly grew 3.4 percent in October, compared to consensus of a 0.5 percent fall and following an upwardly revised 4 percent advance in September.

Singapore’s manufacturing output unexpectedly rose by 0.1 percent year-on-year in September 2019, easily beating market expectations of a 4.1 fall and after a downwardly revised 6.4 percent drop in the previous month. This was the first yearly growth in industrial production since April, amid a rebound in precision engineering output (4% vs -2.1% in August) and a faster rise in production of both biomedical manufacturing (21.9% vs 9.5%) and transport engineering (3% vs 2.6%). On the other hand, output fell for electronics (-9.6% vs -25%), chemicals (-3.9% vs 2.5%) and general manufacturing industries (-7.4% vs 7.3%). On a monthly basis, manufacturing production unexpectedly grew 3.7 percent in September, compared to consensus of a 0.1 percent decline and following a downwardly revised 7.3 percent fall in August.

Singapore’s manufacturing output declined by 8.0 percent year-on-year in August 2019, compared to market expectations of a 0.7 percent drop and following a revised 0.1 percent contraction in the previous month. This was the fourth straight month of yearly decrease in factory output, due to a slump in electronics output (-24.4 percent vs flat reading in July) and precision engineering production (-13.6 percent vs -7.8 percent) and a slowdown in general manufacturing industries growth (5.8 percent vs 6.8 percent). On the other hand, output grew faster for both biomedical manufacturing (10.6 percent vs 1.1 percent) and chemicals (2.7 percent vs 2.5 percent), while rebounded for transport engineering (0.5 percent vs -1.4 percent). On a monthly basis, manufacturing production fell unexpectedly by 7.5 percent in August, missing consensus of a 0.1 percent rise.

Manufacturing production in Singapore declined by 0.4 percent year-on-year in July 2019, after an upwardly revised 8.1 percent fall in the previous month and compared to market consensus of a 4.9 percent decrease. It was the fifth straight month of yearly decline in factory output, with both output of electronics (-0.9 percent vs -18.2 percent in June) and transport engineering (-0.2 percent vs -15 percent) falling much softer. At the same time, production rebounded for both chemicals (2.2 percent vs -3.3 percent) and general manufacturing industries (6.9 percent vs -0.8 percent). Meanwhile, production grew further for biomedical manufacturing (0.8 percent vs 5.4 percent). On a monthly basis, manufacturing production rose unexpectedly by 3.6 percent in July, beating estimates of a 1.8 percent drop and swinging from a revised 0.3 percent fall in June.

Manufacturing production in Singapore declined by 6.9 percent year-on-year in June 2019, after a downwardly revised 2 percent fall in the previous month and compared to market consensus of a 7.9 percent decrease. It was the fourth straight decline in factory output and the steepest since December 2015, as output dropped for transport engineering (-14.2 percent vs 3.4 percent in May) and chemicals (-3.3 percent vs 0.4 percent). Also, production of electronics fell further (-18.8 percent vs -10.8 percent; and biomedical manufacturing output growth slowed markedly (5 percent vs 9.8 percent). Meantime, production of general manufacturing industries advanced at a faster pace (10.8 percent vs 3.8 percent) and output rebounded for precision engineering (0.3 percent vs -3 percent). On a monthly basis, factory output rose 1.2 percent in June, after a downwardly revised 0.1 percent decrease in May and easily beating forecasts of a 0.7 percent fall.

Manufacturing production in Singapore declined by 2.4 percent year-on-year in May 2019, compared with market consensus of a 2.2 percent drop and reversing from a 0.1 percent gain in the previous month. Output shrank for electronics (-10.8 percent vs -0.6 percent in April), precision engineering (-4.7 percent vs -7.8 percent) and chemicals (-0.4 percent vs 2.1 percent). In contrast, production grew faster for biomedical manufacturing (8.8 percent vs 8.2 percent), and it rebounded for general manufacturing industries (4.9 percent vs -0.2 percent) and transport engineering (2.9 percent vs -0.9 percent). On a monthly basis, factory output fell 0.7 percent in May, swinging from a downwardly revised 2.1 percent rise in April while market had estimated a 0.8 percent fall.