Singapore factory output beats expectations; grows 8.9% in February 2018

Published: 27.03.2018 Related countries:  Singapore Singapore

SINGAPORE'S factory output continued to put up a laudable performance in February, dispelling economists' concerns about the Chinese New Year effect and gloomy export numbers earlier in the month.

The Economic Development Board on Monday reported that industrial production grew 8.9 per cent in February compared to a year ago, faster than the 4.2 per cent expected by economists in a Bloomberg poll. Excluding biomedical manufacturing, output grew 9.1 per cent. February's factory output growth of 8.9 per cent still lags behind January's stellar expansion of 16.9 per cent, revised down from earlier 17.9 per cent. On a seasonally adjusted basis, however, manufacturing output dipped 0.5 per cent in February from January. With biomedical manufacturing stripped out, output still managed to grow 1.3 per cent from January.