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Singapore Industrial Production Falls In May

Singapore industrial production declined in May after rising in the previous month, data from the Economic Development Board showed on Wednesday.

Manufacturing output dropped 2.4 percent year-on-year in May, after a 0.1 percent rise in April. Economists had expected a fall of 1.8 percent.

On a month-on-month basis, manufacturing output decreased a seasonally adjusted 0.7 percent in May, after a 2.1 percent increase in the previous month. Economists had expected a 1.7 percent fall.

Excluding bio-medical manufacturing, output fell 4.9 percent from a year ago and declined 2.6 percent from the previous month.

The biomedical manufacturing, general manufacturing and transport engineering logged output growth, while the rest of the manufacturing clusters contracted.

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