26.07.201802:28:00UTC+00Singapore Industrial Production Growth Slows Less Than Forecast

Singapore's industrial production growth eased at a slower-than-expected pace in June, preliminary figures from the Economic Development Board showed Thursday.

Manufacturing output advanced 7.4 percent year-over-year in June, well below the 12.9 percent spike in May. The growth was expected to slow markedly to 3.3 percent.

Excluding biomedical manufacturing, output expanded by 5.9 percent.

All manufacturing clusters recorded output growth in June. The biomedical manufacturing cluster's output grew the most by 13.8 percent over the year, followed by output of transport engineering cluster with 12.4 percent rise. On a monthly basis, industrial production increased a seasonally adjusted 3.9 percent from May, when it gained by 0.3 percent. That was below the expected increase of 2.2 percent.