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Financial News: Singapore Industrial Production Grows In October

Singapore Industrial Production Grows In October

11/26/2021 - 02:20:00 (RTTNews)

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

Industrial output gained 16.9 percent year-on-year in October, after a 2.2 percent drop in September. Production was forecast to increase 4.5 percent.

Excluding biomedical manufacturing, industrial production gained 9.4 percent yearly in September, after a 13.5 percent rise in the preceding month.

On a monthly basis, industrial production rose 2.4 percent in October, after a 1.9 percent decline in the previous month. Economists had expected a 0.5 percent fall.

Biomedical manufacturing grew 56.1 percent annually in October and general manufacturing rose 0.8 percent.

Transport engineering and precision engineering increased by 35.3 percent and 9.1 percent, respectively.

Electronics surged 6.5 percent and chemicals grew by 15.3 percent.

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