Singapore's factory output falls 7.7% in September


MENAFN - 26/10/2009

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(MENAFN) Singapore's Trade and Industry Ministry said in a statement that the city-state's manufacturing fell in September, reversing two months of gains, AP reported.

Industrial production fell 7.7 percent from a year earlier following a 12 percent increase in August and a 17 percent jump in July, the ministry said. Manufacturing in September fell by a seasonally adjusted 9.1 percent from August.

Pharmaceuticals, which account for about a fifth of Singapore's industrial production, fell 15 percent after soaring 108 percent in August. Electronics, which is about a fourth of manufacturing, fell 1.1 percent last month, the ministry said.

The island's economy expanded an annualized seasonally adjusted 15 percent in the July to September period, a second straight quarter of growth after a year of contraction. The government expects the economy to shrink up to 2.5 percent this year after growing 1.1 percent last year.

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