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
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