Singapore - S'pore's October industrial production rises 24.4% on-year

SINGAPORE: Singapore's manufacturing picked up in October 2011 after slowing in the previous month.

Industrial production climbed 24.4 per cent from a year earlier, and rose 14.2 per cent from September, the Economic Development Board said in a statement.

Analysts had expected a year-on-year gain of about eight per cent, and a contraction of about two per cent, on-month.

The biomedical industry was the biggest contributor to the year-on-year gain, with a 112 per cent expansion.

Excluding biomedical output, Singapore's industrial production fell 11.2 per cent in October from a year ago, and rose just 1.2 per cent from the previous month.

Output of the electronics cluster was 20.3 per cent lower in October 2011 compared to the same period last year.

The EDB said all segments within the electronics cluster continued to record lower output due to shrinking demand for exports.

- CNA/fa


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