Singapore’s manufacturing output grew for an eighth straight month in June 2021. It jumped 27.5% from a year ago, owing to a low-base effect due to the COVID-19 pandemic, but overall factory output shrank 3% on a seasonally adjusted month-on-month basis. The biomedical manufacturing cluster expanded the most, at around 43%. This was driven by the pharmaceutical segment, which produced more active ingredients and biological products. However, one analyst warned the situation is still volatile, even with overall manufacturing expected to maintain its growth momentum.
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