Singapore's Manufacturing Output Jumps in July

By Gaurav Raghuvanshi Features Dow Jones Newswires

Singapore's manufacturing output accelerated in July to grow at its fastest pace so far this year, mainly due to a low base of comparison.

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Industrial output grew 21% compared with the same period last year, accelerating from a 12.7% gain in June, according to data from the Singapore Economic Development Board released Friday. A 3.3% on year contraction in July last year set a low base of comparison for the data this year.

Among the main sectors, electronics output surged 49.1% on year in July, compared with a 25.9% rise in June.

Transport engineering grew for the second consecutive month with output rising 2.3% on year in July. Output in the aerospace industry rose 14.1% on year in July, after a 24.6% gain in June. The marine and offshore engineering segment, however, remained a drag and contracted 9.1%.

Measured on a seasonally adjusted on-month basis, total output grew 1.0% after a 9.0% gain in June, the data showed.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

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(END) Dow Jones Newswires

August 25, 2017 01:14 ET (05:14 GMT)