This is more than twice the median forecast of a 3.6% in factory output in a poll by Bloomberg.
Singapore’s manufacturing sector began 2021 with a bang, with output expanding by 8.6% y-o-y in the first month of the year, following broad based expansions across most segments save biomedical manufacturing.
Excluding this segment, the increase in output widened to 12.1%, according to data released by Singapore’s Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry (MTI).
