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Financial News: Singapore Industrial Production Growth Slows Less Than For

Singapore Industrial Production Growth Slows Less Than Forecast

05/26/2017 - 01:37:00 (RTTNews)

(RTTNews) - Singapore's industrial production growth eased at a slower-than-expected pace in April, preliminary data from the Economic Development Board showed Friday.

Industrial production climbed climbed 6.7 percent year-over-year in April, well below the 11.0 percent spike in March, which was revised up from a 10.2 percent growth reported earlier.

Economists had expected a 6.0 percent rise for the month.

Excluding biomedical manufacturing, output expanded strongly by 15.5 percent annually in April.

Among components, the electronics and precision engineering clusters registered an increase in output, while chemicals, biomedical manufacturing, transport engineering and general manufacturing clusters contracted.

On a monthly basis, industrial production edged up a seasonally adjusted 0.1 percent from March, when it advanced by 5.7 percent

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