Excluding the biomedical cluster, IP softened to 0.4% y-o-y in October.
Analysts remain positive on Singapore’s manufacturing sector after the country’s industrial production (IP) grew by 0.1% m-o-m on a seasonally adjusted basis in October, rebounding from a revised -1.5% m-o-m sa fall in September.
The “pullback” in October IP was partly driven by a sharp deceleration in pharmaceuticals while medical technology output remained stable at 1.6% y-o-y in October, UOB Economist Jester Koh notes.
