August 25, 2017 / 5:01 AM / 4 months ago

Singapore July factory output rises fastest in 7 months y/y

SINGAPORE, Aug 25 (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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