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Financial News: Singapore Industrial Production Growth Exceeds Forecast

Singapore Industrial Production Growth Exceeds Forecast

05/25/2018 - 03:55:00 (RTTNews)

(RTTNews) - Singapore's industrial production growth quickened in April, and at a faster-than-expected pace, preliminary figures from the Economic Development Board showed Friday.

Manufacturing output advanced 9.1 percent year-over-year in April, faster than the 6.1 percent rise in March. The growth was expected to improve to 8.0 percent.

Excluding biomedical manufacturing, output expanded by 9.3 percent.

All manufacturing clusters recorded output growth in April. The chemical cluster's output grew the most by 12.4 percent over the year, followed by output of electronics cluster with 11.3 percent spike.

On a monthly basis, industrial production increased a seasonally adjusted 0.2 percent from March, when it climbed by 0.5 percent.

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