26 Aug '11, 3pm

DTN Singapore: Singapore's industrial output grew at slower pace in July: SINGAPORE: Singapore's industrial outp...

SINGAPORE: Singapore's industrial output growth slowed in July, despite a spectacular save by the biomedical cluster. Output increased 7.4 percent from a year earlier, slower than the 10.7 percent growth in June. Factories churning out electronics components and other tech products continued to be the under-achievers. Output from tech-based factories dropped 18% last month on poor demand for computer chips and the closure of Seagate's disk-drive plant. And it seems things may get worse before they get better. CIMB Research's regional economist, Song Seng Wun, said: "Is this the bottom? Probably near that bottom, although I think that bottom is at a slightly lower level than what we anticipated, say six months ago. "Bear in mind, tech accounts for almost a third of Singapore's manufacturing output. That's why the manufacturing performance is enormously dependent on performa...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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