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24.2% factory output jump in Sept raises Singapore GDP hopes

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Janice Heng

Janice Heng

Published Mon, Oct 26, 2020 · 09:50 PM
    Surprise pharma boost

    Singapore

    SINGAPORE'S factory output soared 24.2 per cent year-on-year (y-o-y) in September, giving a surprise boost to third-quarter gross domestic product (GDP) growth and raising hopes for full-year performance, with some economists revising their estimates.

    Driven by a near-doubling in output from the volatile biomedical cluster, September's industrial production growth was the highest since December 2011 - far exceeding economists' expectations of 2.5 per cent, and up from 15.4 per cent in August.

    Singapore economySingapore manufacturing

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