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.
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.
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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.
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(END) Dow Jones Newswires
August 25, 2017 01:14 ET (05:14 GMT)