Singapore factory output falls 7.4% in May as biomedical growth cools

Overall production dropped 7.4 per cent year on year in May. - ST

SINGAPORE (The Straits Times/ANN): Singapore's manufacturing output shrank last month, reversing two straight months of expansion, as the pace of growth in the volatile biomedical cluster fell sharply.

Overall production dropped 7.4 per cent year on year in May after increasing 13.6 per cent in April, according to data released by the Economic Development Board on Friday (June 26).