FX.co ★ Singapore’s Industrial Output Growth Cools to 13.0% in May, Easing From April Surge

Singapore’s industrial production growth moderated in May 2026, with output rising 13.0% year-over-year, down from a robust 16.5% expansion recorded in April 2026.

The latest figures, updated on 26 June 2026, show that while the manufacturing sector continues to post strong annual gains, the pace of growth has eased compared with the previous month. Both the current and previous readings are measured on a year-over-year basis, comparing each month’s performance to the same month a year earlier.

The slowdown from April’s high base suggests that momentum in industrial activity remains positive but is normalizing after an exceptionally strong surge. Investors and policymakers are likely to watch upcoming data to assess whether May’s softer reading marks the start of a broader cooling trend or a temporary pause in Singapore’s industrial upswing.