Singapore's manufacturing production recovered strongly at a faster than expected pace in April due to a surge in biomedical output, data showed Thursday.
Manufacturing production advanced 4.7 percent year-on-year in April, reversing last month's 3.8 percent fall, the Economic Development Board reported. Economists had forecast only 1.6 percent increase.
Output of the biomedical manufacturing cluster surged 44.7 percent in April. Excluding biomedical manufacturing, overall output was down 2.7 percent.
On a seasonally adjusted month-on-month basis, manufacturing output grew 2.5 percent in April. Although the rate was slower than the 6.8 percent increase logged in March, it exceeded the 0.5 percent rise forecast by economists.
For comments and feedback: editorial@rttnews.com