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.
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