Singapore's manufacturing sector suffered a year-on-year decline of 9.6 per cent in output in November, fresh figures compiled by the Economic Development Board (EDB) revealed.
Excluding biomedical output, manufacturing production slipped 13.5 per cent last month from the corresponding period of last year.
The biggest production fall came from the electronics sector, which reported a 30.1 per cent decline from last year. The electronics sector suffered the most due to pathetic demand for semiconductors and data storage units, which slipped 31.1 and 55.2 per cent respectively.
Thai floods, eurozone's debt crisi and slowdown in the US also hit Singapore's manufacturing sector hard. Analysts have warned that manufacturing sector might remain weak in the recent future.
Song Seng Wun of CIMB Research said that electronics sector would only start improving once the Europeans start spending again.
Commenting on the figures, Rajiv Biswas of IHS said, "I think the underlying picture of relatively weaker eurozone demand for electronics remains an issue - at least in the first half of next year."
From January to November, electronics production slipped 12.4 per cent from the year-ago period. It was in almost direct contrast of analysts' average projection of an increase of 12.2 per cent.
