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Financial News: Singapore Manufacturing Output Growth Improves For Second

Singapore Manufacturing Output Growth Improves For Second Month

12/26/2018 - 03:16:00 (RTTNews)

(RTTNews) - Singapore's manufacturing output rose at the fastest pace in five months, figures from the Economic Development Board Singapore showed on Wednesday.

Manufacturing output grew 7.6 percent year-on-year, following a 5.5 percent rise in October. Economists had expected an increase of 4.2 percent.

The latest growth was the biggest since June, when output rose 8.5 percent.

On a seasonally adjusted basis, manufacturing output grew 2.8 percent month-on-month, following a 2.4 percent rise in November. Economists had forecast 0.7 percent gain.

Output rose on a monthly basis for a second straight month.

Excluding biomedical production, manufacturing output rose 5.3 percent year-on-year in November after a 4.2 percent increase in October. On monthly basis, the manufacturing output remained same.

The electronics and chemicals clusters rose slightly, while the rest of the manufacturing clusters eased, the EDB said.

Among clusters, biomedical manufacturing logged the biggest year-on-year gain of 18.5 percent, followed by electronics with an 11.2 percent rise.

Growth in transport engineering output eased sharply to 11.3 percent, and precision engineering had a fall of 8.2 percent.

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