Electronics production surges 49.1% in July
Semiconductor production reached a new record high.
Singapore's electronics sector continues to spark higher industrial production (IP) after it reported a 49.1% growth rate in July.
According to Maybank, this was led by growth in the Semiconductors subsector that hit its record high and marked the 17th month of two-digit expansion. It contributed 62% to total Electronics output.
Computer and Peripherals manufacturing grew 18.9%, whilst that of Consumer Electronics rose by 5.1%.
On the downside, Data Storage and Other Electronic Components output contracted by 27.2% and 5.2%, respectively.
Precision engineering production also increased 21.8%. Production of its Machinery & Systems segment grew 25.4%, backed by demand for semiconductor-related equipment.