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Singapore manufacturing jumps 12 percent in July

Singapore manufacturing jumps 12 percent in July

Singapore says its manufacturing jumped in July as the city-state broke out of a severe recession.
The Trade and Industry Ministry says in a statement Wednesday that industrial production rose 12.4 percent from a year earlier and soared a seasonally adjusted 23 percent from June.
The ministry says pharmaceuticals production in July rose 139 percent from a year earlier while electronics fell 5.6 percent.
The surge in manufacturing suggests the Singapore economy will grow for a second straight quarter in the July to September period. Gross domestic product expanded an annualized seasonally adjusted 20.7 percent in the second quarter, the first growth in a year.


Updated : 2021-01-20 13:01 GMT+08:00