Chart of the day: Manufacturing output growth slows down in July
Manufacturing output grew by only 0.6% compared to 2.6% in June.
This chart from the Economic Development Board of Singapore shows the total manufacturing output of Singapore for the month of July dipping to 0.6% compared to a 2.6% growth in June.
Excluding biomedical, output grew by 2.9% in July, a dip from 4.9% growth in June.
On a three-month moving average basis, manufacturing output rose 4.3% in July 2022, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output decreased by 2.3%. Excluding biomedical manufacturing, output declined 1.1%.
Manufacturing output declined due to a decline in electronics manufacturing with lower export orders from China and Korea.