Factory output surpasses expectations

November's performance surprised economists, who had expected a 4.2 per cent growth in output, according to a Bloomberg poll.
November's performance surprised economists, who had expected a 4.2 per cent growth in output, according to a Bloomberg poll.PHOTO: REUTERS

Singapore's factory output brought in some Christmas cheer amid the dampened outlook for the sector, climbing 7.6 per cent year on year last month.

November's performance surprised economists, who had expected a 4.2 per cent growth in output, according to a Bloomberg poll.

The growth was driven by the biomedical cluster, which expanded 18.5 per cent year on year, according to data from the Economic Development Board. However, the pharmaceuticals industry tends to be volatile.

Analysts doubt that the upward trend will continue, given that the 90-day tariff ceasefire between the United States and China is due to expire on March 1.

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A version of this article appeared in the print edition of The Straits Times on December 27, 2018, with the headline 'Factory output surpasses expectations'. Print Edition | Subscribe