Singapore’s manufacturing output fell 7.5 percent last month, data released yesterday showed, as exports from the recession-hit economy suffer during a global slowdown.
The 7.5 percent decline, compared with the same month last year, was less than an average 15.0 percent drop forecast in a Dow Jones Newswires poll of economists.
Gains in pharmaceutical production could not outweigh falls in most other categories, the preliminary data from Singapore’s Economic Development Board (EDB) showed. But increased biomedical manufacturing, which includes pharmaceuticals, pushed output up by 6.2 percent on a seasonally adjusted month-on-month basis last month from October, EDB said.
The manufacturing sector accounts for nearly a quarter of Singapore’s economic output. Virtually all of the production heads for foreign markets, an indicator of Singapore’s dependence on the health of the global economy, analysts say. With key markets the EU and the US in recession, Singapore’s exports have been hurt and the city-state in October became the first Asian economy to enter recession.
Pharmaceutical output grew 17.5 percent last month, the EDB said. Medical technology, the other component of biomedical manufacturing, dropped by 15.4 percent but overall biomedical output rose 14.9 percent, EDB said.
Information communications and consumer electronics output fell by 58.2 percent while semiconductors dropped 17.6 percent, helping to drag total output in the electronics sector down by 19.4 percent last month, it said.
The chemical sector fell by 20.1 percent last month, while general manufacturing declined by 1.7 percent, EDB said.
The government has cut its growth target for this year to 2.5 percent and says the economy could contract by 1 percent or grow as much as 2 percent next year.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
CAUSE AND EFFECT: China’s policies prompted the US to increase its presence in the Indo-Pacific, and Beijing should consider if this outcome is in its best interests, Lai said China has been escalating its military and political pressure on Taiwan for many years, but should reflect on this strategy and think about what is really in its best interest, President William Lai (賴清德) said. Lai made the remark in a YouTube interview with Mindi World News that was broadcast on Saturday, ahead of the first anniversary of his presidential inauguration tomorrow. The US has clearly stated that China is its biggest challenge and threat, with US President Donald Trump and US Secretary of Defense Pete Hegseth repeatedly saying that the US should increase its forces in the Indo-Pacific region
RSS