SINGAPORE (Reuters) - Singapore reported on Friday a 6.7% drop in industrial output in June from a year ago, declining for the second straight month and missing forecasts, mainly due to a fall in pharmaceuticals manufacturing.
The median of eight economists’ forecasts was for a 0.8% rise, after the gauge dropped a revised 8.1% in May.
On a month-on-month and seasonally adjusted basis, industrial production increased 0.2% in June, data from the Singapore Economic Development Board showed. Economists had expected a 10.3% rise.
Reporting by Aradhana Aravindan and John Geddie in Singapore; Editing by Muralikumar Anantharaman