Singapore July manufacturing output down 0.9% y/y, less than expected

People walk towards the Merlion park along Marina Bay in Singapore. — AFP

SINGAPORE: Singapore's industrial output in July fell 0.9% year-on-year, contracting for a 10th consecutive month but significantly less than expected, official data showed on Friday.

Economists had expected a 3.8% year-on-year contraction in July, according to a Reuters poll. On a month-on-month and seasonally adjusted basis, industrial production increased 4.1% in July, beating economists' expectation of a 0.5% contraction. - Reuters