26 Feb '13, 5am

Singapore's manufacturing unexpectedly falls on pharmaceuticals

Singapore's manufacturing unexpectedly falls on pharmaceuticals

Singapore ’s industrial production unexpectedly declined in January as demand for electronics and pharmaceuticals faltered. Manufacturing fell 0.4 percent from a year earlier after a revised 1.3 percent gain in December, the Economic Development Board said in a report today. The median of 16 economists surveyed by Bloomberg News was for a 5.2 percent increase. Singapore’s export-dependent economy has been constrained by an uneven global recovery that’s seen Europe struggle to exit its worst recession in four years and a manufacturing slowdown in China damping optimism its rebound is gaining traction. The island shipped fewer electronics in January, even as exporters from Thailand to Taiwan reported stronger demand for such items. “We expect industrial production to underperform in the near term,” Chester Liaw, an economist at Forecast Pte in Singapore, said before the repo...

Full article: http://www.bloomberg.com/news/2013-02-26/singapore-s-manu...

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