RTTNews - Singapore's industrial output rose 12.4% year-on-year in July, reversing a revised 9% fall in the preceding month. Economists expected output to decline 1%.

Month-on-month, on a seasonally adjusted basis, industrial output climbed 23%, in contrast to a revised 9% fall in the preceding month. Economists expected a 7.1% rise.

Excluding the biomedical sector, industrial output fell 7.4% on a yearly basis in July, but rose a seasonally adjusted 7.7% compared to the previous month.

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