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Singapore Industrial Production Drops In October

(RTTNews) - Singapore's industrial production declined in October, albeit at a slightly slower than expected pace, data from the Economic Development Board revealed on Friday.

Industrial production declined 0.8 percent year-on-year in October, after a 1.6 percent growth in September. Economists had expected a fall of 0.9 percent.

Excluding biomedical manufacturing, industrial production growth eased to 1.9 percent in October from 2.4 percent in the previous month.

On a monthly basis, industrial production rose 0.9 percent in October, following a 0.2 percent gain in the prior month.

Among major clusters, precision engineering surged 18.6 percent in October and transport engineering grew 6.3 percent.
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