Singapore April industrial output slips 0.3 pct y/y

28-May-2012 Intellasia | Reuters | 7:01 AM Print This Post

Singapore’s Economic Development Board (EDB) on Friday released the following industrial production data for April (change in percentage terms):

April March February January December November Oct

++ m/m s/adj -3.5 +2.6* -1.2* +2.5* +8.9 -7.4 +3.5

y/y -0.3 -3.1* +12.3* -9.4 +25.2 -2.3 +6.6

Excluding Biomedical

April March February January December November Oct

++m/m s/adj -0.8 +2.7* -0.2* +1.5* +7.2 -2.3 +0.9

y/y +0.5 -3.1* +7.2* -16.3 -4.3 -12.6 -12.3

** seasonally adjusted

CONTEXT

– The 0.3 percent fall in April industrial output was unexpected, and rooted in weakness in the biomedical and electronics sectors.

– According to a Reuters poll of economists, the consensus estimate was for year-on-year growth of 7.1 percent for manufacturing output.

– When biomedical manufacturing is excluded, output in April rose 0.5 percent.

– Singapore electronics output shrank 12.5 percent from a year earlier, dragged by weak exports o semiconductors and a fall in output of the other electronic modules and components segment.

– Biomedical manufacturing output fell 4.2 percent from a year earlier, partly due to a 7.6 percent drop I pharmaceuticals.

– Singapore’s exports rose more than expected in April due to a surge in pharmaceuticals but softness in electronics, a mainstay of manufacturing in many Asian economies, points to likely weakness in regional growth as China economy cools.

– The latest Purchasing managers Index by a Singapore institute had found that manufacturing activity contracted in April after two months of expansion, hurt by drops in employment and order backlogs.

– Production and export data in Singapore are difficult to predict because biomedical output, in particular, tends to be highly volatile.

http://finance.yahoo.com/news/singapore-april-industrial-output-slips-050331552.html

 


Category: Singapore

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