Singapore Industrial Production Growth Moderates

(RTTNews) - Singapore's industrial production registered a double-digit growth in November but the pace of expansion moderated, data from the Economic Development Board showed on Friday.

Driven by biomedical manufacturing, industrial output grew 14.3 percent year-on-year in November but slower than October's 28.9 percent increase.

Biomedical manufacturing output surged 79.3 percent as the pharmaceutical segment expanded 124.3 percent. Excluding biomedical manufacturing, industrial output advanced only 4.6 percent after rising 15.5 percent in the prior month.

Output of transport engineering climbed 24.2 percent and electronics output increased 8.9 percent. Precision engineering and chemical output rose 2.4 percent and 2.2 percent, respectively. On the other hand, general manufacturing shrank 4.8 percent.

On a monthly basis, industrial output declined 10.2 percent, in contrast to the 11.2 percent rise in October.