Production dips 0.5% in Singapore

Source: Agencies | May 27, 2009, Wednesday |

Print Edition

SINGAPORE'S manufacturing recorded its smallest drop for seven months in April as production from the volatile pharmaceutical sector soared, offsetting another plunge in electronics.

Industrial production fell 0.5 percent from a year earlier and rose a seasonally adjusted 25 percent from March, the Trade and Industry Ministry said yesterday.

Production of electronics slid 22 percent in April and chemicals fell 24 percent. Pharmaceuticals soared 78 percent after plummeting 57 percent in March, the ministry said.

Earlier this month, the government revised its first-quarter GDP figure to a seasonally adjusted, annualized 14.6 percent decline from a 19.7 percent drop reported in April.

The government expects the economy to shrink up to 9 percent this year, the worst recession since independence in 1965.

Manufacturing

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Production dips 0.5% in Singapore

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