Singapore Factory Growth Slows to 3.4% as Pharma Output Falls

Singapore, 26 October 2026 – Singapore’s manufacturing output rose 3.4% year on year in September, slowing from 15.4% growth in August and falling short of a 7.1% market forecast. Output excluding biomedical manufacturing increased 9%, according to the Singapore Economic Development Board, as electronics and precision engineering expanded while pharmaceuticals contracted sharply.

The data matter to Asian businesses and investors because manufacturing remains a key channel through which global semiconductor, artificial-intelligence and trade demand reaches Singapore. The 3.4% gain is confirmed, but the headline conceals wide sector differences. Strong equipment and electronics activity cannot be assumed to offset pharmaceutical weakness every month, especially when product mixes are volatile.