Manufacturing output fell 6% from December on a seasonally adjusted basis, more than double the 2.6% contraction predicted in a Reuters poll. The contraction ended a five-month streak of monthly gains and was the biggest shrinkage on a month-on-month, seasonally adjusted basis since January 2014. Analysts said the January data, released by the Singapore Economic Development Board, was impacted by the timing of the Lunar New Year holiday, which began late that month. The January slip comes after Singapore's industrial production in December grew at the strongest pace in five years, jumping at a revised 22.1% from a year earlier, thanks to a surge in electronics output. Singapore has had lacklustre economic growth the past two years as sluggish global demand weighed on exports.

Source: The Edge Markets February 24, 2017 07:07 UTC