(Oct 25): Singapore’s factory output unexpectedly increased in September as a slump in electronics moderated and pharmaceuticals production surged.
Industrial production rose 0.1% from a year earlier, the Economic Development Board said in a statement Friday. All 12 economists in a Bloomberg survey predicted a contraction ranging from 1.8% to 12%. On a seasonally adjusted monthly basis, production climbed 3.7%.
Electronics continued to contract, but the 9.6% decline was milder than August’s 25% plunge. Pharmaceuticals surged 26.2% in September from a year ago, while petrochemicals gained 6.9%.