FX.co ★ Singapore Industrial Production Declines 3.9%

Preliminary data released by the Economic Development Board on Friday showed that Singapore's industrial production saw an unexpected decline in June, following a recovery in the previous month.

Industrial production fell by 3.9 percent year-on-year in June, reversing the 2.3 percent growth recorded in May. Market expectations had predicted no change in output.

When excluding the bio-medical manufacturing sector, industrial production dropped by 1.6 percent annually in June, in contrast to a 9.5 percent increase in the prior month.

On a month-to-month basis, industrial production decreased by 3.8 percent after a 0.5 percent rise in May.

Among the major sectors, the bio-medical manufacturing segment experienced the most significant decline, plummeting by 23.2 percent year-on-year in June, while electronics output decreased by 5.5 percent. In contrast, transport engineering output saw a substantial growth of 10.3 percent.