Singapore July manufacturing output up 0.6% y/y, misses forecast

Singapore’s industrial output in July grew 0.6% year-on-year, well below forecasts, partly due to a decrease in the output of electronics and biomedical manufacturing, official data showed on Friday.

Economists had expected a 5.3% year-on-year increase in July.

On a month-on-month and seasonally adjusted basis, industrial production decreased 2.3% in July. Economists had forecast 0.9% growth.