Singapore Industrial Production Growth Slows More Than Forecast

Singapore’s industrial production growth eased at a faster-than-expected pace in November, preliminary figures from the Economic Development Board showed Tuesday.

Manufacturing output rose 5.0 percent year-over-year in November, but much slower than the 14.5 percent surge in October.

Economists had expected the growth to moderate to 8.0 percent. The measure has been rising since August last year.

Excluding biomedical manufacturing, output advanced by 13.9 percent.

The electronics, chemicals, precision engineering and general manufacturing clusters registered output growth, while the biomedical manufacturing and transport engineering clusters contracted.

Month-on-month, manufacturing output dropped a seasonally adjusted 2.3 percent from October, when it increased by 0.4 percent. It was forecast to decrease by 0.5 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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