Singapore Industrial Production Surges In October

(RTTNews) - Singapore's industrial output logged a sharp growth in October driven by pharmaceutical production, data published the Economic Development Board showed Wednesday.

Industrial output advanced 29.1 percent year-on-year in October, following September's 16.2 percent increase.

Excluding biomedical manufacturing, industrial production moved up 11.7 percent after rising 1.0 percent in September.

Month-on-month, industrial production growth more than halved to 11.5 percent from 26.4 percent in September.

Data showed that biomedical manufacturing surged 89.6 percent in October from the previous year due the massive 122.9 percent increase in pharmaceutical output. Transport engineering output climbed 29.5 percent as the aerospace segment logged 50.6 percent expansion. Electronics output grew 26.9 percent and precision engineering output moved up 12.2 percent.

Chemical output grew 2.2 percent, while general manufacturing output contracted 5.6 percent in October.