Singapore April factory output rises 0.1% y/y, beats forecasts
SINGAPORE, May 24 (Reuters) - Singapore's industrial
production unexpectedly grew in April, helped by higher
pharmaceutical manufacturing, data showed on Friday.
Manufacturing output in April rose 0.1% from a year earlier,
data from the Singapore Economic Development Board showed,
recovering from the revised 4.3% decline in March. The median
forecast in a Reuters survey predicted a 3.5% contraction.
On a month-on-month and seasonally adjusted basis,
industrial production also beat expectations with a 2.4% rise in
April, after declining a revised 2.5% in March. The median
forecast was for a fall of 1.3% for April.
The surprise was helped by growth of pharmaceutical output,
which grew 10.9% in April from a year earlier after growing
15.8% the month before.
Electronics output in April, however, continued to decline,
falling at 0.6% from a year ago after declining 15.1% in March.
(Reporting by Fathin Ungku; editing by Gopakumar Warrier)
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