Singapore February factory output rises faster than expected

SINGAPORE (March 24): Singapore's industrial production rose more than expected in February from a year earlier thanks to a surge in electronics manufacturing output, but analysts expect global conditions will weigh on manufacturing in months ahead.

Manufacturing output in February rose 12.6% from a year earlier, data from the Singapore Economic Development Board showed on Friday, exceeding the median forecast in a Reuters survey which predicted a 10.8% expansion on-year.

Industrial production on a month-on-month and seasonally adjusted basis, however, fell 3.7% in February. The median forecast was for a rise of 0.4% but analysts said January and February single-month data was likely skewed by "seasonal distortions" such as the timing of the long Lunar New Year holiday, which fell in February last year but late January this year. Many factories close or scale back operations during this period.

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