Analysts split on outlook after factory output in July falls 0.4%

On a seasonally adjusted month-on-month basis, overall manufacturing production increased 3.6 per cent.
On a seasonally adjusted month-on-month basis, overall manufacturing production increased 3.6 per cent.PHOTO: LIANHE ZAOBAO

It was a case of good news, bad news for the manufacturing sector last month.

Output fell from July last year - the third straight month of decline - but by just 0.4 per cent, far better than expected by analysts.

It was also a stellar improvement from the 8.1 per cent plunge in June - the sector's worst showing in 3½ years.

The data has split analysts, with some tipping a technical recession while others are more optimistic.

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A version of this article appeared in the print edition of The Straits Times on August 27, 2019, with the headline 'Analysts split on outlook after factory output in July falls 0.4%'. Print Edition | Subscribe