PREVIEW-Singapore Jan manufacturing to rebound on drugs, tech

* What: Singapore Jan manufacturing data

* When: Tuesday, Feb 26 at 1 p.m. (0500 GMT)

* Output expected to rise on pharmaceuticals, electronics

SINGAPORE, Feb 25 (Reuters) - Singapore's manufacturing
output probably grew moderately in January from December,
lifted by higher drugs and electronics production, a Reuters
poll showed on Monday.

The median forecast for six economists was for January
factory output to have risen a seasonally adjusted 2.1 percent,
following an unexpected 4.7 percent fall in December, dragged
by weak drugs production.

But forecasts ranged widely, from a fall of 1.7 percent to
a jump of 12.6 percent. Singapore's manufacturing sector
accounted for a quarter of the city-state's $163 billion
economy in 2007.

"There are gains in electronics and pharmaceuticals," said
David Cohen, an economist at Action Economics. "Even as
everyone is holding their breath about a slowdown in global
demand, it still has not showed in January numbers."

Exports from Japan and China beat forecasts in January,
although the outlook is seen shaky in both countries due to
weaker economic growth in the United States.

Singapore's factory output, however, disappointed
economists' expectations in the fourth quarter, dampened by
lacklustre electronics and pharmaceuticals production, leading
to the first quarterly economic contraction since 2003.

From a year earlier, manufacturing output probably grew 7.5
percent, according to the median forecast of seven economists,
and follows a 1.7 percent fall in December.

Singapore's non-oil exports, which include active drug
ingredients and mobile phones, beat market forecasts in January
after rising a seasonally adjusted 8.4 percent from December,
lifted by electronics shipments which jumped 16.8 percent.

Electronic goods account for about a third of Singapore's
factory output.

Economists expect Singapore's manufacturing activity to
slow this year, hit by weaker demand in the United States, the
biggest purchaser by country of the island's non-oil exports.

Economic growth in the city-state is expected to cool to
between 4-6 percent this year from a blistering 7.7 percent in
2007, according to government estimates.

Singapore's Economic Development Board is due to release
the manufacturing data on Tuesday at 1 p.m. (0500 GMT).

Forecasts for Singapore's manufacturing index in Jan:

Percentage change

------------------------

vs Jan 07 vs Dec 07*
Citigroup 3.5 -1.7
Standard Chartered 4.3 -1.0
ING 4.9 -0.4
Action Economics 7.5 4.5
DBS 8.1 ~
Forecast 12.3 11.9
JPMorgan 18.6 12.6
------------------------------------------------
Median 7.5 2.1
High 18.6 12.6
Low 3.5 -1.7

* Seasonally adjusted

~ Not available
($1=1.405 Singapore Dollar)
(Reporting by Koh Gui Qing, editing by Jacqueline Wong)