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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Industrial Production YoY fell to 3.4% in September 2026
FMPMonthlyReleased October 2026
Singapore Industrial Production YoY fell to 3.4% in September 2026, released October 2026, down 12.0% from August's 15.4% reading. The reading missed the 12.5% consensus by 9.1%. The print is running well below the 12-month average of 10.87%. Over the past 3 months, Industrial Production YoY averaged 11.1%, vs 12.6% in the prior 3-month window. Industrial Production YoY is now the lowest in 6 months.
Latest Release
3.4
Actual
12.5
Consensus
15.4
Previous
Median Absolute Error
±10.13 percentage points
across last 12 releases
Last Call
Oct 2026
Predicted: 14.88
Actual: 3.4
Error: +11.47
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Nikkei 225 | ▲ Direct | +0.53 | INDEX | Moves with | → View |
| USD/SGD | ▼ Inverse | −0.37 | FOREX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.27 | COMMODITIES | Moves against | → View |
| S&P 500 | ▲ Direct | +0.25 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.25 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production YoY (Singapore) was reported at 3.4% in October 2026. This missed the market consensus of 12.5% by 9.1%. The reading fell from the previous value of 15.4%. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 11.96%, ranging from -0.1% to 29.1% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 8.53%, down from the prior three at 12.6%. Volatility over the past year (σ 7.67%) is higher than the prior year (σ 5.26%).
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Nikkei 225 (Bullish Nikkei 225). A secondary relationship exists with USD/SGD, negatively correlated (Bearish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 10.13%.
WHAT TO WATCH NEXT
The next release is scheduled for November 26, 2026.
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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Industrial Production YoY - SG
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About Industrial Production YoY — Singapore
DEFINITION
Industrial Production YoY (Year-over-Year) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors over a 12-month period. It provides valuable insights into the health and growth of a country's industrial sector, which is a crucial component of its overall economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it can signal potential shifts in the economy and help inform business and investment decisions. A positive YoY growth in industrial production indicates a strong and expanding industrial sector, while a negative growth may suggest a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2026): actual 3.4 %, consensus 12.5 %. Prior reading (Aug 2026): 15.4 %. Before that (Jul 2026): 6.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with Nikkei 225 (Bullish Nikkei 225, r=0.53) — a useful reference for index-focused traders.
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Economic Calendar - SG Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 978.8 | 966.4 | 909.5 | 944.15 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 1.9 | 2 | 2.00 | Low |
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 05:00 | SG | Business Confidence | 12 | 14 | 14.00 | Low | |
| 13:00 | SG | S&P Global Manufacturing PMI | 51.7 | 51.8 | 51.80 | Low | |