August 25, 2017 / 5:11 AM / a month ago

Singapore July factory output rises fastest in seven months

A general view of factories in the industrial district of Jurong in western Singapore April 4, 2016. REUTERS/Edgar Su/File Photo

SINGAPORE (Reuters) - Singapore’s industrial production in July grew at its fastest pace in seven months from a year earlier, helped by higher output of electronics and precision engineering products, data showed on Friday.

Manufacturing output in July rose 21.0 percent from a year earlier, exceeding market expectations, data from the Singapore Economic Development Board showed. The median forecast in a Reuters survey was for a 14 percent expansion.

Manufacturing output in July was the biggest increase since December, when it grew 22.4 percent from a year earlier.

On a month-on-month and seasonally adjusted basis, industrial production rose 1 percent in July. The median forecast was for a contraction of 3.4 percent.

Reporting by Fathin Ungku; Editing by Sunil Nair

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