Singapore November factory output rises 7.6 percent, beats forecast

Singapore city
Singapore city Reuters

Singapore's industrial production in November beats expectations, data showed on Wednesday, helped by a jump in pharmaceuticals output as well as strong expansion in the marine and offshore engineering segment.

Manufacturing output in November rose 7.6 percent from a year earlier, data from the Singapore Economic Development Board showed. The median forecast in a Reuters survey of eight economists predicted a 4.1 percent expansion. It was faster than the revised 5.5 percent growth in October.

On a month-on-month and seasonally adjusted basis, industrial production rose 2.8 percent in November, faster than October's revised 2.4 percent growth.

Pharmaceuticals production in November rose 23.9 percent from a year ago, while electronics output increased 11.2 percent.

The marine and offshore engineering segment expanded 26.6 percent on the back of a low base in November last year as well as a higher level of work done in offshore projects.