Singapore's industrial output grows 11.1 percent on year in June


  • Business
  • Tuesday, 26 Jul 2005

SINGAPORE (AP) - Singapore's industrial production grew 11.1 percent on year in June, led by double-digit growth in the biomedical sector. 

Seasonally adjusted, manufacturing output rose 9.2 percent from the previous month, rebounding from May's 4.5 percent contraction, the Economic Development Board said in a statement. 

In May, the board said monthly manufacturing production only grew a revised 2.0 percent from a year earlier. 

Biomedical output rose at a faster-than-expected 40.8 percent pace in June, after contracting for two months in a row, the statement said. 

Within the biomedical sector,pharmaceuticals jumped 48.6 percent from a year earlier. 

Excluding the volatile biomedical sector, industrial production in June rose 5.5 percent compared to a year ago. 

Transport engineering continued its upward thrust, rising 35.1 percent from a year earlier in June but electronics output rose only 2.0 percent as semiconductor production fell for the second month in a row. 

The monthly data is one of the barometers analysts use to gauge the performance of Singapore's trade-dependent, export-oriented economy. - AP

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