Singapore's manufacturing output recovered at a faster than expected pace in May, data from the Economic Development Board showed Tuesday.
Manufacturing output rose 6.6 percent in May from a year ago, reversing the prior month's 0.2 percent drop. The increase also exceeded the 6.1 percent rise forecast by economists.
Excluding biomedical manufacturing, output increased only 2 percent. Output of the biomedical manufacturing cluster surged 32.8 percent and transport engineering advanced 35.4 percent.
Month-on-month, manufacturing output was up 1.8 percent, partially offsetting the 3.3 percent decline logged in April. Nonetheless, the growth was weaker than the expected 2.6 percent increase.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Economic News