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Financial News: Singapore Industrial Production Growth Eases In August

Singapore Industrial Production Growth Eases In August

09/24/2021 - 02:40:00 (RTTNews)

(RTTNews) - Singapore's industrial production increased at a softer pace in August, data from the Economic Development Board showed on Friday.

Industrial output grew 11.2 percent year-on-year in August, after a 16.4 percent rise in July. Production was forecast to increase 8.8 percent.

Excluding biomedical manufacturing, industrial production gained 13.6 percent yearly in August, following a 6.7 percent rise in the preceding month.

On a monthly basis, industrial production grew 5.7 percent in July, after a 2.8 percent fell in the previous month. Economists had expected a 3.1 percent rise.

Biomedical manufacturing declined 0.6 percent annually in August.

Meanwhile, transport engineering and precision engineering increased by 23.5 percent and 22.9 percent, respectively.

Electronics surged 15.4 percent. General manufacturing output rose 6.2 percent and chemicals grew by 0.4 percent.

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