SINGAPORE: Singapore’s industrial production in November beat expectations, data showed on Wednesday, helped by a jump in pharmaceuticals output as well as strong expansion in the marine and offshore engineering segment.
Manufacturing output in November rose 7.6% from a year earlier, data from the Singapore Economic Development Board showed.
The median forecast in a Reuters survey of eight economists predicted a 4.1% expansion. It was faster than the revised 5.5% growth in October.
On a month-on-month and seasonally adjusted basis, industrial production rose 2.8% in November, faster than October’s revised 2.4% growth.
Pharmaceuticals production in November rose 23.9% from a year ago, while electronics output increased 11.2%.
The marine and offshore engineering segment expanded 26.6% on the back of a low base in November last year as well as a higher level of work done in offshore projects.