August industrial output falls 2.2% year-on-year
SINGAPORE (REUTERS) - Singapore's industrial output fell in August primarily due to electronics, which fell 7.3 per cent year-on-year, following year-on-year declines of 5.3 per cent and 5.0 per cent in July and June, respectively, according to Economic Development Board (EDB) on Wednesday.
On a year-on-year basis, manufacturing output declined 2.2% in August 2012.
Economists had expected industrial production to rise 1.1 per cent year-on-year but stay unchanged month-on-month after seasonal adjustments.
EDB said the drop in electronics output from a year earlier was due to "continued weak export demand". For the first eight months of 2012, electronics production fell 12 per cent from the same period last year.