26 Jul '11, 9am

Manufacturing expands 10.5% in June

An expansion in biomedical production and precision engineering offset a contraction in electronics output. Compared to May, factory production rose 1.6 per cent on a seasonally-adjusted basis. -- PHOTO: BLOOMBERG FACTORY output bounced back from two straight months of decline to rise 10.5 per cent in June from a year ago. An expansion in biomedical production and precision engineering offset a contraction in electronics output. Compared to May, factory production rose 1.6 per cent on a seasonally-adjusted basis. Bank of America-Merrill Lynch economist Chua Hak Bin said that figures released by the Economic Development Board (EDB) affirm that Singapore's economic growth probably slowed to 4.7 per cent in the first half of the year. He said: "The Government may have to downgrade its full year Gross Domestic Product forecast of 5 per cent to 7 per cent given the weak first h...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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