Singapore factories grow better than expected in June, outlook cloudy on trade tensions

SINGAPORE (July 26): Singapore’s industrial production grew faster than expected in June, helped by a sharp turnaround of the marine and offshore sector, data showed on Thursday, but analysts say trade tensions cloud the outlook.

Industrial production in June rose 7.4% from a year earlier, easing from the revised 12.9% on-year rise the month before, but better than the 3.9% rise forecast by a Reuters poll, data from the Singapore Economic Development Board showed.

On a month-on-month and seasonally adjusted basis, industrial production expanded 3.9% in June, compared with a revised 0.3% expansion in May. The poll saw a 1.7% expansion.

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