Singapore July factory output rises fastest in seven months

SINGAPORE (Reuters) - Singapore's industrial production in July grew at its fastest pace in seven months from a year earlier, helped by higher output of electronics and precision engineering products, data showed on Friday.

Manufacturing output in July rose 21.0 percent from a year earlier, exceeding market expectations, data from the Singapore Economic Development Board showed. The median forecast in a Reuters survey was for a 14 percent expansion.

Manufacturing output in July was the biggest increase since December, when it grew 22.4 percent from a year earlier.

On a month-on-month and seasonally adjusted basis, industrial production rose 1 percent in July. The median forecast was for a contraction of 3.4 percent.

 

(Reporting by Fathin Ungku; Editing by Sunil Nair)