Singapore June industrial output drops less than forecast

Singapore’s industrial production slipped in June, dented by electronics sector, although the drop was slightly less than expected, data showed on Friday, reports Trend referring to Reuters.

Manufacturing output fell 6.9% in June from a year earlier, data from the Singapore Economic Development Board showed, compared with a revised 2% contraction in May. The median forecast in a Reuters survey predicted a 7.9% drop.

On a month-on-month and seasonally adjusted basis, industrial production rose 1.2% in June, after a revised 0.1% fall in May. The median forecast was for a fall of 0.7%.