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Financial News: Singapore Industrial Production Growth Slows In July

Singapore Industrial Production Growth Slows In July

08/26/2021 - 03:54:00 (RTTNews)

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

Industrial output grew 16.3 percent year-on-year in July, after a 28.0 percent rise in June. Production was forecast to increase 20.2 percent.

Excluding biomedical manufacturing, industrial production gained 5.8 percent yearly in July, after a 25.1 percent rise in the preceding month.

On a monthly basis, industrial production declined 2.6 percent in July, after a 2.6 percent fell in the previous month. Economists had expected a 0.3 percent fall.

Biomedical manufacturing accelerated 86.6 percent annually in July. Transport engineering and precision engineering increased by 33.1 percent and 20.3 percent, respectively.

Electronics surged 1.5 percent and general manufacturing output grew 11.0 percent.

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