ONE BRIGHT SPOT: The computer, electronic goods and optical components industry grew 23.3 percent annually, the eighth consecutive month of double-digit growth
Date: Jun 25, 2019
By: Natasha Li / Staff reporter
Industrial production fell back into negative growth last month, dropping 3.05 percent year-on-year, after growth of 1.04 percent in April, the Ministry of Economic Affairs said yesterday.
Although all sectors saw declines of more than 2 percent, the main cause was the 3.01 percent drop in the manufacturing sector, it said.
Last month’s performance was even greater than DBS Bank Ltd’s (星展銀行) estimate of a 1.7 percent contraction.
Despite the decline across the manufacturing sector, the output of the computer, electronic goods and optical components industry stood out with a year-on-year increase of 23.3 percent, a double-digit growth for an eighth month in a row, the ministry said. [FULL STORY]