Excluding contributions from the biomedical segment, manufacturing output widened to 9.4% y-o-y, according to data released by Singapore’s Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry (MTI).
Singapore’s manufacturing sector broke its 10-month growth streak in September with a 3.4% contraction, no thanks to a shrinkage in the output of the biomedical segment.
The latest showing is a turnaround from August’s 11% expansion, and is more severe than the median decline of 0.9% forecast by private-sector analysts in a Bloomberg poll.
