, Singapore

Chart of the Day: Here’s proof that Singapore’s industrial production is more than disappointing

Industrial production plummeted by 3.6%.

Singapore’s industrial production was expected to drop to begin with, but analysts didn’t expect it to drop by 3.6% in July, 3.3% more than what is expected.

According to a report by OCBC, this marked the second contraction reading this year, the first being February 2016.

Meanwhile, electronics saw a 2nd straight month of double-digit improvement, booking a 16.2% growth, led by the semiconductor subsector, which grew by 34%.

“Excluding biomedical, manufacturing output slumped 2.0% yoy (-4.8% mom sa) in July,” OCBC Research said.

3Q manufacturing also could contract 1.7%, OCBC noted, after the +1.1% yoy growth blip seen in 2Q16.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley