Chart of the Day: Here’s more bad news for Singapore’s industrial production

Demand is getting weaker.

Electronic exports have been declining for the last 23 months, and the recent “firm specific” disruption to production is adding salt into the wound, a report by DBS says.

The 4.6% contraction of non-oil domestic export (NODX) performance is the culprit for a disappointing performance in June’s industrial production.

External headwinds and domestic structural drag sandwich the manufacturing sector, especially with domestic restructuring further compounding the woes with a resulting labour crunch.