Singapore’s factory output returns to growth with 1.8% rise in July, as electronics sector improves
Only the volatile biomedical manufacturing cluster falls
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SINGAPORE’S factory output grew 1.8 per cent year on year in July, reversing from June’s revised 4.3 per cent decline, going by Economic Development Board (EDB) data on Monday (Aug 26).
The latest reading surpassed private-sector economists’ median forecast of 0.2 per cent growth in a Bloomberg poll.
Excluding the volatile biomedical sector, industrial production (IP) gained 3.4 per cent on year last month, in an about-turn from the 2.2 per cent contraction in June.
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