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Financial News: Singapore Industrial Production Growth Slows Less Than For

Singapore Industrial Production Growth Slows Less Than Forecast

10/26/2017 - 01:23:00 (RTTNews)

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

Manufacturing output expanded strongly by 14.6 percent year-over-year in September, but slower than the 19.5 percent surge in August.

Economists had expected the growth to moderate to 10.0 percent. The measure has been rising since August last year.

Excluding biomedical manufacturing, output advanced by 16.1 percent.

All manufacturing clusters, except for transport engineering, recorded output growth in September.

Month-on-month, manufacturing output dropped a seasonally adjusted 0.5 percent from August, when it rose by 0.6 percent.

However, that was well below the 7.3 percent fall expected by economists. It was the first decline in four months.

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