Singapore August factory output growth slower than expected at 3.3 pct y/y

SINGAPORE, Sept 26 (Reuters) - Singapore's industrial production growth slowed in August due to declining output of electronics and pharmaceuticals, data showed on Wednesday.

Manufacturing output in August rose 3.3 percent from a year earlier, data from the Singapore Economic Development Board showed, slower than the revised 6.7 percent growth in July.

The median forecast in a Reuters survey predicted a 4.4 percent expansion.

On a month-on-month and seasonally adjusted basis, industrial production fell 2.0 percent in August, declining further from the revised 1.2 percent contraction in July. The median forecast was for a contraction of 0.6 percent.

Electronics output grew 3.6 percent in August from the year earlier, slowing from the 5.1 percent growth seen in July.

Production of pharmaceuticals slowed to 8.7 percent in August year-on-year compared to the 14.1 percent growth seen in the month before. (Reporting by Fathin Ungku; Editing by Sunil Nair)

2018-09-26 07:00:01

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