, Singapore

October’s industrial production performance due to low-base levels and strong global demand

According to UOB, this growth was led by the biomedical manufacturing cluster. 

A report by UOB stated that the industrial production performance for October was due to global demand and low-base levels. 

In particular, UOB’s Barnabas Gan report that the advance was faster than Bloomberg and UOB’s estimates at 14.5% and 13.3% y-o-y. 

Biomedical manufacturing-led with an expansion by 76.7%, with the pharmaceutical segment following with an 83.4% y-o-y due to a low production base. This contrasts with the fall in performance from the previous month at 35.9%.

This mix of low base and stronger production momentum also benefitted the transport engineering, chemicals and general manufacturing sectors. Marine & offshore engineering and aerospace, in particular, posted rebounds of 77.6% and 26.9%, respectively.

With these performances, UOB expects a positive outlook on semiconductors and related industries, due to strong capital investment in the semiconductor industry.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!