Singapore Industrial Output Rises Unexpectedly

Singapore’s industrial production increased unexpectedly in September driven by higher biomedical output, data from the Economic Development Board showed Friday. Industrial production grew 0.1 percent on a yearly basis in September, confounding expectations for a decline of 5.1 percent. Production had decreased by revised 6.4 percent in August.

Excluding biomedical, industrial production declined 4.3 percent from the last year. Biomedical cluster logged a sharp growth of 21.9 percent.

Month-on-month, manufacturing output rebounded 3.7 percent following a 7.3 percent decline a month ago. Economists had forecast a 1.8 percent drop for September.

The material has been provided by InstaForex Company –