Singapore's factory output jumps 12.4 per cent in July

Singapore's factory output jumps 12.4 per cent in July Singapore  - Singapore's factory output in July recorded the biggest jump in 16 months boosted by a soaring biomedical sector, government data released Wednesday showed.

Manufacturing output in July climbed 12.4 per cent compared to a year earlier, following a 9-per-cent decline in June, the Singapore Economic Development Board said.

Compared to the previous month, factory output rose 23 per cent in July.

The output in biomedical manufacturing more than doubled in July, showing an increase by 125.4 per cent over a year ago, attributed mainly to higher production of pharmaceuticals which soared 139.2 per cent.

Output in electronics declined 5.6 per cent in July compared to a year ago, after dropping by 19.2 per cent in June, the agency said.

The unexpected jump in manufacturing suggests that Singapore could see a second straight quarter of economic growth from July to September.

From April to June, gross domestic product expanded 20.7 per cent compared with the previous quarter, the first growth after one year of decline. (dpa)