Singapore
SINGAPORE'S manufacturing output edged back into growth territory in April, up 0.1 per cent year-on-year, contrary to economists' expectations of a 3.5 per cent fall, and improving from March's revised figure of a 4.3 per cent contraction.
But excluding the volatile biomedical manufacturing cluster, output was actually down 2.1 per cent, according to Singapore Economic Development Board (EDB) figures released on Friday. Economists are not holding their breath that the upside surprise will be sustained.
Biomedical manufacturing continued to make the strongest showing, with output up 11.2 per cent. This comprised a 10.9 per cent rise in pharmaceuticals output and a 12 per cent rise in medical...