SINGAPORE, Dec 26 (Reuters) – Singapore’s industrial output unexpectedly fell in November because of steep declines in electronics and pharmaceutical production, data showed on Thursday.
Manufacturing output in November fell 9.3% from a year earlier, data from the Singapore Economic Development Board showed, compared with a downwardly revised 3.6% increase in October. The median forecast in a Reuters survey of eight economists had predicted a 0.8% rise.
On a month-on-month and seasonally adjusted basis, industrial production fell 9.4% in November, after a revised 3.0% increase in the previous month. The median forecast was for a 1.1% increase, based on estimates from five analysts.
Industrial output was pulled down by pharmaceutical production, which declined 12.7% in November from a year ago, and electronics manufacturing, which fell 20.9%. (Reporting by Aradhana Aravindan in Singapore; Editing by Subhranshu Sahu)
