26.09.201802:17:00UTC+00Singapore's Industrial Output Growth Eases In August

Singapore's industrial production grew at a slower pace in August, figures from the Economic Development Board showed Wednesday.

Industrial production climbed 3.3 percent year-on-year in August. This was slower than the 6.7 percent increase seen in July and the expected growth rate of 4.7 percent.

Excluding biomedical manufacturing, output grew 3.0 percent compared to 5.8 percent rise seen a month ago. Biomedical logged an annual growth of 4.2 percent.

Month-on-month, industrial output decreased 2 percent after falling 1.2 percent in the previous month. Output was forecast to drop marginally by 0.5 percent.

Data showed that all clusters, except general manufacturing, expanded in August from last year. Electronics output grew 3.6 percent, chemicals advanced 5.7 percent, precision engineering moved up 5.6 percent and transport engineering by 4.7 percent.

Meanwhile, general manufacturing shrank 6 percent in August.