Sturdy Semiconductor Demand Underpin Industrial Production Gains

Economic Research	27 May 2016
Singapore
Economic Highlights
Sturdy Semiconductor Demand Underpin Industrial Production Gains Singapore’s industrial production rose 2.9% y-o-y in April, stepping up from a revised 0.1% reading the month before. Semiconductor fabrication did most of the heavy lifting, as output surged 24.2% y-o-y, compared to a 21.9% climb the month before. Things were further improved as the chemicals, precision engineering and transport engineering clusters all contracted at a slower pace compared to the month before. Meanwhile, activity in the biomedical manufacturing sector grew 14.9% y-o-y in April, easing from a 24.4% rise the month before, capping some of the upside. Excluding biomedical manufacturing, output decreased 0.1% y-o-y in April, recovering partially from its -5.1% showing the month before. Economist:  Ng Kee Chou | +603 92802179
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