May's manufacturing surge no flash in the pan as analysts upgrade forecasts for 2021
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SINGAPORE'S factory sector posted bumper year-on-year growth in May, off the low base from the previous year's "circuit breaker" shutdown.
The surge is not likely to recede in the second half, with analysts upping their forecasts for industrial production and positive on the boost to the full-year economic rebound.
Output from the local manufacturing sector surged by 30 per cent year on year in May, for its seventh straight month of growth - picking up from the 2.3 per cent rise in April, according to Economic Development Board (EDB) figures released on Friday.
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