Singapore's industrial production experienced a notable deceleration in growth for October, as indicated by preliminary figures from the Economic Development Board released on Tuesday.
In October, industrial production increased by 1.2 percent compared to the same month last year, a significant slowdown from the 9.0 percent surge observed in September. This marks the slowest growth rate since the current upward trend began in July.
When excluding the biomedical manufacturing sector, industrial production saw a modest annual rise of 0.4 percent in October, down from the 3.6 percent increase in the previous month.
On a month-to-month basis, industrial production saw a slight rebound of 0.1 percent in October, following a 1.5 percent decline in September.
Among the key sectors, transport engineering output rose by 10.9 percent year-on-year in October, with biomedical manufacturing following suit with a 7.8 percent increase. Electronics output advanced by 4.3 percent, benefiting from growth across all segments due to improved order volumes.
Conversely, precision engineering output experienced a steep decline of 15.9 percent compared to the previous year, while chemicals output fell by 2.2 percent.
