Singapore’s industrial production rose a smaller-than-expected 12.1% in February from a year earlier, hurt by a surprise contraction of 6.0% in electronics.
On a seasonally adjusted month-on-month basis, industrial production shrank 1.1%, the Economic Development Board said on Monday.
Economists polled by Reuters had a consensus forecast of a month-on-month seasonally adjusted expansion of 5.4% and year-on-year growth of 14.9%.
The manufacturing data comes as a surprise as Singapore’s non-oil domestic exports surged 30.5% in February from a year earlier, helped by a recovery in electronics shipments and a continued strong performance in pharmaceuticals.
No comments:
Post a Comment