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Singapore's June factory output falls

Output fell a worse-than-expected, seasonally adjusted 9.4 percent in June, its sharpest fall in more than two years, due to a steep decline in drugs production

Thu, Jul 26, 2007
Reuters

SINGAPORE, July 26 (Reuters) - Singapore's manufacturing output fell a worse-than-expected, seasonally adjusted 9.4 percent in June, its sharpest fall in more than two years, due to a steep decline in drugs production, data showed on Thursday.

Five economists had forecast output would decline a seasonally adjusted 6.0 percent in June from May due to slower tech production.

The monthly manufacturing data follows a revised 4.1 percent increase in May, revised from 4 percent, and an 8.5 percent rise in April.

From a year earlier, factory output in June fell 7.4 percent, the Economic Development Board said in a statement, compared with a market forecast for a 4.0 percent fall.

Manufacturing accounts for about a quarter of Singapore's trade-dependent economy.

REUTERS

 
 
 
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