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Singapore April factory output +2.9 pct y/y, exceeds forecasts
May 26, 2016 / 5:01 AM / a year ago

Singapore April factory output +2.9 pct y/y, exceeds forecasts

SINGAPORE, May 26 (Reuters) - Singapore’s industrial production in April grew at the fastest pace in nearly two years, helped by output in the electronics and pharmaceuticals sectors expanding at a healthy clip, data showed on Thursday.

Manufacturing output rose 2.9 percent from a year earlier in April, the largest increase since August 2014, data from the Singapore Economic Development Board showed. The median forecast in a Reuters survey was for a contraction of 0.3 percent.

On a month-on-month and seasonally adjusted basis, factory output rose 4.8 percent in April, exceeding the median forecast of an increase of 0.8 percent. (Reporting by Masayuki Kitano; Editing by Shri Navaratnam)

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