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Financial News: Singapore Industrial Production Falls In June

Singapore Industrial Production Falls In June

07/26/2019 - 01:29:00 (RTTNews)

(RTTNews) - Singapore's industrial production declined further in June, data from the Economic Development Board showed on Friday.

Manufacturing output dropped 6.9 percent year-on-year in June, following a 2.0 percent fall in May. Economists had expected a 8.5 percent decline.

On a month-on-month basis, manufacturing output increased a seasonally adjusted 1.2 percent in June, after a 0.1 percent decrease in the previous month. Economists had expected a fall of 0.8 percent.

Excluding bio-medical manufacturing, output fell 9.9 percent from a year ago and declined 2.9 percent from the previous month.

The general manufacturing, biomedical manufacturing and precision engineering logged output growth, while the rest of the manufacturing clusters contracted.

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