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Date: 26-mar-2025 | By: Nuztrend Team
On March 26, 2025, Singapore's Economic Development Board reported a 1.3% year-on-year decline in manufacturing output for February, defying analysts' expectations of a 7% increase.
The biomedical sector experienced a significant downturn, with output decreasing by 14.3%, primarily due to a 30% drop in pharmaceutical production. Additionally, the electronics sector saw a 6.4% decline, with semiconductor production falling by 9.5%.
Economists attribute the decline to cautious consumer and business behavior amid uncertainties surrounding potential new U.S. tariffs.
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