SINGAPORE (Dec 20): In 2019, Singapore’s worsening manufacturing sector was a cause for concern as the country’s economy slowed to a decade-low growth rate of 0.1% in the second quarter. In July, the outlook for the second half of the year did not appear positive as most manufacturing and services firms turned less upbeat about business prospects.

However, September marked a turning point, with manufacturing output recording a modest 0.1% growth. The most recent set of data released by the Economic Development Board (EDB) shows a 4.0% increase in October, the largest y-o-y growth since November 2018, when factory output grew 6.8%.

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