Singapore manufacturing drops 6.7% in June

Credit: REUTERS/EDGAR SU

Singapore reported on Friday a 6.7% drop in industrial output in June from a year ago, declining for the second straight month and missing forecasts, mainly due to a fall in pharmaceuticals manufacturing.

SINGAPORE, July 24 (Reuters) - Singapore reported on Friday a 6.7% drop in industrial output in June from a year ago, declining for the second straight month and missing forecasts, mainly due to a fall in pharmaceuticals manufacturing.

The median of eight economists' forecasts was for a 0.8% rise, after the gauge dropped a revised 8.1% in May.

On a month-on-month and seasonally adjusted basis, industrial production increased 0.2% in June, data from the Singapore Economic Development Board showed. Economists had expected a 10.3% rise. (Reporting by Aradhana Aravindan and John Geddie in Singapore; Editing by Muralikumar Anantharaman) ((aradhana.aravindan@thomsonreuters.com;)) Keywords: SINGAPORE ECONOMY/MANUFACTURING (URGENT)

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