Singapore’s industrial output in November grew 17.9% year-on-year, beating economists’ forecasts, helped by a surge in biomedical and electronics manufacturing, official data showed on Thursday.
Economists had expected a 15.4% increase in November, according to seven economists surveyed by Reuters. Factory output shrank a revised 0.8% in October, data from the Singapore Economic Development Board showed.
Electronics output jumped 34.9% year-on-year and the biomedical sector, which is typically volatile, rose 40.6%.
On a month-on-month and seasonally adjusted basis, industrial production increased 7.2% in November. Economists had expected a 5% growth.
Source: Reuters |
