December 21, 2017 / 5:34 AM / 5 months ago

Singapore November industrial output growth seen at six-month low: Reuters poll

SINGAPORE (Reuters) - Singapore’s industrial output in November likely expanded at the slowest year-on-year pace in six months, a Reuters poll showed, reflecting a high base effect from last year and signaling a tempering in fourth-quarter economic growth.

FILE PHOTO: Employees are seen by their workstations at a printed circuit board assembly factory in Singapore June 28, 2016. REUTERS/Edgar Su/File Photo

Manufacturing output probably rose 9.0 percent in November from a year earlier, according to the median forecast in a Reuters poll of 11 analysts, slowing from October’s 14.6 percent expansion.

That would be the slowest year-on-year increase since May, when industrial production grew 4.6 percent.

On a month-on-month and seasonally adjusted basis, manufacturing output is seen edging up 0.7 percent, which would be the same as the growth pace recorded in October.

The November performance of industrial output could affect economists’ expectations for Singapore’s advance estimate of fourth-quarter gross domestic product, due to be released in January.

In the third quarter, the city-state’s economy grew 5.2 percent from a year earlier, the quickest pace in nearly four years, thanks to a boom in manufacturing that some analysts say will encourage tighter monetary policy in 2018.

Reporting by Masayuki Kitano; Editing by Amrutha Gayathri

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