Singapore’s industrial production rebounded strongly in November driven by biomedical manufacturing, data from the Economic Development Board showed Thursday.
Industrial output climbed 17.9 percent on a yearly basis, in contrast to a 0.8 percent fall in October. Production was forecast to grow 15.4 percent.
Excluding biomedical manufacturing, industrial production grew 14 percent from the same period last year.
On a monthly basis, industrial production advanced 7.2 percent, reversing a 19 percent decline in the previous month. This was also faster than the expected 5 percent increase.
Biomedical manufacturing output surged 40.6 percent annually in November. Production of electronics and chemical clusters grew 34.9 percent and 10.1 percent, respectively.
Precision engineering output gained 7.3 percent from the last year. Meanwhile, general manufacturing and transport engineering fell 13.3 percent and 29.5 percent, respectively.