Singapore August manufacturing surges 13.7% year-on-year, beats forecasts
Singapore’s industrial output rose 13.7% year-on-year in August, beating economists’ expectations, buoyed by a 44.2% jump in electronics production, official data showed on Friday, Trend reports with reference to Reuters.
Economists had expected a 4.6% increase, according to the median of their forecasts in a Reuters poll. Industrial production marked its first rise after three straight months of contraction on an annual basis.
On a month-on-month and seasonally adjusted basis, industrial production increased 13.9% in August, data from the Singapore Economic Development Board showed. Economists had expected a 2.6% rise.