Singapore factory output rises 3.5% in August
Singapore's manufacturing sector grew 3.5 per cent last month over the same month a year ago, boosted by higher output from rig builders, ship makers and electronics producers.
The increase beat July's expansion, which was revised up to 3 per cent, but still came in slightly below economists' forecasts. On a month-on-month basis, manufacturing shrank 1.4 per cent in August over July.
Last month's year-on-year growth was buoyed by the transport engineering and electronics clusters, according to data from the Economic Development Board (EDB) released on Thursday.
Production from the transport engineering segment, which includes marine and offshore engineering as well as land and aerospace transport engineering, grew 18.1 per cent in August over a year ago. Electronics output, which accounts for the largest share of the manufacturing sector, grew 5.3 per cent in the same period.