Singapore November manufacturing beats forecasts with 7.6% year-on-year growth

Excluding volatile biomedical manufacturing sector, factory output grew 5.3% year-on-year

Janice Heng

Published Wed, Dec 26, 2018 · 09:50 PM

Singapore

SINGAPORE'S manufacturing output grew 7.6 per cent year-on-year in November, beating economists' estimates of 4.2 per cent and outstripping October's 5.5 per cent figure, according to preliminary estimates from the Singapore Economic Development Board on Wednesday.

Yet, economists are cautious not to be too congratulatory. Mizuho Bank head of economics and strategy Vishnu Varathan noted that the November performance was boosted by biomedical outperformance exaggerated by a low year-ago base, as well as fairly steady month-to-month electronics output also "being flattered by a low base" from 2017.