AI Powers Singapore Manufacturing
Singapore manufacturing output surges 15.4 percent in August driven by strong AI demand.
Anonymous
Singapore’s manufacturing output rose 15.4% year over year in August, accelerating from revised July growth of 6.9% but falling short of economists’ forecasts. AI-related demand powered strong gains in precision engineering, up 33.9% on semiconductor-equipment production, and electronics, up 28.5% on output of servers, semiconductors and data-storage products. Most manufacturing clusters expanded, while chemicals output fell 12.7%; excluding the volatile biomedical sector, output grew 17%. On a seasonally adjusted monthly basis, factory production slipped 0.5%.
Key Points
1
On a seasonally adjusted monthly basis, output excluding biomedical manufacturing rose 5.8% in August, compared with a 0.8% increase in July, even as total production fell 0.5%.
2
Within electronics, semiconductor output rose 26.1%, infocomms and consumer electronics grew 66.3%, and computer peripherals and data storage expanded 20.4%; other electronic modules and components, however, fell 6%.
3
Transport engineering output increased 9.5%, with gains in land and aerospace manufacturing; aerospace benefited from higher aircraft-parts production and continued maintenance, repair and overhaul work for commercial airlines.
4
General manufacturing grew 1.5%, supported by beverages, commercial printing, and metal doors and windows. Medical technology also recorded higher medical-device output amid stronger export demand, partly offset by lower pharmaceutical production due to a different mix of active ingredients.
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