August 24, 2018 / 5:27 AM / a month ago

Singapore July factory output growth slows on-month, but beats forecast

SINGAPORE (Reuters) - Singapore’s industrial production growth slowed slightly on-year in July from a month ago, but still came in above forecasts, data showed on Friday.

People pass the skyline of Singapore October 11, 2017. REUTERS/Edgar Su/Files

Manufacturing output in July rose 6.0 percent from a year earlier, data from the Singapore Economic Development Board showed, slower than the revised 8.0 percent on-year growth in June. The median forecast in a Reuters survey predicted a 5.4 percent expansion.

On a month-on-month and seasonally adjusted basis, industrial production fell 1.7 percent in July, lower than the revised 4.4 percent rise the month earlier. The median forecast was for a contraction of 1.3 percent.

Pharmaceutical manufacturing output in July grew 14.1 percent from the year earlier after rising 17.4 percent in June.

Electronics output was up 5.4 percent in July from the year earlier after, slowing from the 7.9 percent growth seen in the previous month.

Reporting by Fathin Ungku; Editing by Sunil Nair

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