Singapore's industrial production increased for the third successive month in May, but at a slower-than-expected pace, preliminary figures from the Economic Development Board showed Friday.
Industrial production rose 0.9 percent year-over-year in May, below economists' expectations for a 3.0 percent climb. It was also slower than the 3.0 percent gain in April, which was revised from a 2.9 percent growth reported earlier.
Excluding biomedical manufacturing, output declined by 2.3 percent.
Among components, the biomedical manufacturing cluster's output expanded 13.2 percent annually in May and output of the electronics cluster advanced by 5.9 percent.
At the same time, the transport engineering cluster's output slumped 17.2 percent and the output of the general manufacturing industries cluster fell by 2.0 percent.
On a monthly basis, industrial production dropped a seasonally adjusted 0.4 percent in May, reversing a 4.4 percent hike in April. It was the first decline in three months.
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