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Singapore Industrial Production Falls Less Than Forecast

(RTTNews) - Singapore's industrial production declined at a slower-than-expected rate in July, data from the Economic Development Board showed on Monday.

Manufacturing output dropped 0.4 percent year-on-year in July, following an 8.1 percent fall in June. Economists had expected a 4.9 percent decline.

On a month-on-month basis, manufacturing output increased a seasonally adjusted 3.6 percent in July, after a 0.3 percent decrease in the previous month. Economists had expected a fall of 2.8 percent.

Excluding bio-medical manufacturing, output fell 0.7 percent from a year ago but rose 9.4 percent from the previous month.

The general manufacturing, biomedical manufacturing and chemicals logged output growth, while the rest of the manufacturing clusters contracted from last year.
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