- Production slid 7.9% y/y, estimate was for 7.2% drop
- Electronics and petrochemicals dropped while drugs gained
Singapore’s industrial production fell for an 11th month in December as electronics and petrochemicals output declined amid slowing growth in China. That marks the longest slump since at least 2000.
Factory output fell 7.9 percent from a year earlier in December, after declining a revised 6.4 percent in November, the Singapore Economic Development Board said in a statement on Tuesday. The median estimate in a Bloomberg News survey of 16 economists was for a 7.2 percent slide. Electronics and petrochemicals production fell more than 12 percent from a year earlier.