Growth in all clusters of Singapore's manufacturing sector in June

Figures from the Economic Development Board showed a 7.4 per cent rise in Singapore's manufacturing sector from the previous year.
Figures from the Economic Development Board showed a 7.4 per cent rise in Singapore's manufacturing sector from the previous year. PHOTO: ST FILE

All clusters in Singapore's manufacturing sector grew last month despite ongoing trade tensions.

Figures from the Economic Development Board showed a 7.4 per cent rise on the previous year.

Although this was below May's 12.9 per cent surge, it still beat economists' consensus forecast of a 3.3 per cent increase.

However, there may be choppy waters ahead, as the lustre may be fading in the powerhouse electronics cluster.

Its June output expanded by 7.1 per cent, a plunge from May's 18.7 per cent jump.

The ING Asia-Pacific economics team said growth in industrial production "is very clearly pea-king out".

"But there are too many unanswered questions to make a confident prediction of what happens over the rest of this year and next," they added.

 

SEE BUSINESS

A version of this article appeared in the print edition of The Straits Times on July 27, 2018, with the headline 'Growth in all clusters of Singapore's manufacturing sector in June'. Print Edition | Subscribe