SINGAPORE: Singapore’s industrial production sustained a 9.8% year-on-year increase in September, defying predictions of a 7.2% decline, according to a report from UOB.
The continued growth reflects a surprisingly robust performance in manufacturing, led by a sharp surge in pharmaceutical production.
However, excluding the biomedical sector, industrial production in September experienced a 7.6% decline, contrasting with the 11.5% growth recorded in August, resulting in a moderate 4.5% year-on-year increase, a slowdown from August’s 28.4%.
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