Singapore Manufacturing Output Shrinks More than Expected

Singapore’s manufacturing production dropped by 7.8% yoy in August 2025, reversing an upwardly revised 7.7% growth in July and marking the first fall since June 2024. The latest figure was much steeper than market consensus of a 2.5% decrease. Electronic output fell after a strong rise previously (-4.8% vs 14.7% in July), pressured by declines in semiconductors and computers. Also, biomedical manufacturing slumped (-37.3% vs 0.2%), as pharmaceutical output contracted sharply. Precision engineering was also weak (-1.7% vs 9.7%), weighed by a fall in machinery. General manufacturing shrank 13.9%, steeper than a 9.7% fall in July, with all components down. At the same time, chemical output slowed (3.5% vs 4.2%), owing to drops in petroleum. Meanwhile, transport engineering strengthened (18.9% vs 15.7%), lifted by growth in aerospace. On a seasonally adjusted monthly basis, output tumbled 9.7%, pointing the sharpest fall in 17 months and swinging from a 8.8% increase in June.