Semiconductor segment sparks a brilliant 62% output growth in April

This marks its 14th consecutive month of double-digit expansion.

The electronics cluster of manufacturing output is booming, thanks to the spectacular performance of the semiconductor segment.

According to Maybank Kim Eng, the semiconductor segment reported a robust 62% increase in April, clocking in its 14th consecutive month of double-digit expansion and recording the highest level of production to date.

The rest of the electronics cluster, computer peripherals (+5.6%), consumer electronics (+4.4%) and other electronic modules (+17.7%) - grew at a faster pace than the previous month, except for data storage whose outputs declined 26.2%.

"The global demand for semiconductors remains strong, as reflected by the global PMI numbers that are still in expansion phase and the continued increase in Singapore’s electronics NODX. We think growth will continue to broaden from electronics and trade-related segments to other segments of services, bringing full year GDP growth to +3%," Maybank KimEng.