Singapore’s factory output snapped out of a three-month losing streak with a 13.7% year-on-year expansion in August. This follows a strong growth in semiconductor production and demand for biomedical products. 

Excluding the biomedical cluster, the increase in output widened to 15.3%, according to data released by Singapore’s Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry (MTI).

August’s rebound comes as a surprise as July’s 8.4% plunge was noted as Singapore’s worst year-on-year performance on record since 1983. It is also a stronger performance than the 4.6% expansion forecast by economists in a Reuters poll.

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