(RTTNews) - Industrial production in Singapore grew 3.6% year-on-year in October, rebounding from the upwardly revised 6.3% decrease in the previous month, the Economic Development Board reported on Thursday. Economists had expected industrial output to rise 7.5%. Excluding the biomedical manufacturing sector, output climbed 4.3%.

On a monthly basis, industrial output slumped a seasonally adjusted 6.7% in October, slower than the upwardly revised 8.7% decrease in the preceding month. The decline came as a surprise, with economists’ expecting a 1.6% increase in output. Excluding the biomedical sector, output rose 1.4%.

In the first ten months of the year, industrial production contracted by 5.1% compared to the corresponding period of the previous year.

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