Singapore factory output shrinks for third month in July, with sharper 8.4% fall

Manufacturing output fell 8.4 per cent last month on a year-on-year basis.- ST

SINGAPORE (The Straits Times/ANN): Singapore's factory output contracted for the third straight month in July on the back of a continued drop in the volatile biomedical manufacturing cluster and electronics production turning negative, according to data released by the Economic Development Board (EDB) on Wednesday (Aug 26).

Manufacturing output fell 8.4 per cent last month on a year-on-year basis, steeper than the revised 6.5 per cent drop in June.