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Singapore's electronics growth shows no signs of letting up

Bloomberg Published on Mon, Aug 28, 2017 / 9:20 AM GMT+8

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(Aug 28): Singapore’s electronics output surged almost 50% in July from a year earlier, underpinning overall manufacturing in the city state and signaling a global trade recovery is holding up.

Industrial production rose 21%, the fastest pace in seven months, beating all 17 forecasts in a Bloomberg survey of economists. The electronics cluster, which includes products such as semiconductors, computer inputs and data storage, makes up almost a third of overall manufacturing.

Along with Taiwan, South Korea and other export-reliant economies, Singapore is benefiting from a pick-up in global trade, including high-tech products such as smartphones. Even with some slowdown in China, the growth in the technology sector is set to continue, supporting manufacturing, said Weiwen Ng, an economist at Australia & New Zealand Banking Group.