26 Dec '12, 5am

Singapore November Industrial Output Recovers on Pharmaceuticals - Bloomberg

Singapore November Industrial Output Recovers on Pharmaceuticals - Bloomberg

Singapore ’s industrial production rose for the first time in four months in November as manufacturers produced more pharmaceuticals, countering a slump in electronics. Manufacturing gained 3.1 percent from a year earlier after a revised 5.1 percent drop in October, the Economic Development Board said in a report today. The median of 13 economists surveyed by Bloomberg News was for a 4.8 percent increase. Data from the U.S. and China have shown signs of recovery in the world’s largest economies, which may boost demand for Singapore’s goods. The Southeast Asian nation this month concluded negotiations on a free-trade agreement with the European Union, deepening access to overseas markets. “Demand from the U.S., China and Europe will improve, but at the earliest in the second half of 2013,” Michael Wan, a Singapore-based analyst at Credit Suisse Group AG, said before the rep...

Full article: http://www.bloomberg.com/news/2012-12-26/singapore-novemb...

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