Singapore’s factory output rises 8.5% in November, below estimates
Figure falls short of the 9.7% growth for the month predicted by private-sector economists
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SINGAPORE’S factory output grew 8.5 per cent on year in November, outpacing the previous month’s growth of 1.2 per cent. This came as output in the key electronics sector surged, though gains were offset by the volatile biomedical manufacturing sector, data from the Singapore Economic Development Board showed on Thursday (Dec 26).
The month’s performance fell short of private-sector economists’ expectations, who had predicted a 9.7 per cent expansion in a Bloomberg poll.
Excluding the volatile biomedical manufacturing sector, industrial production was up 13 per cent year on year (yoy), accelerating from October’s 0.4 per cent growth.
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