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Singapore manufacturing drops 6.7% in June

·1 min read
Employees are seen by their workstations at a printed circuit board assembly factory in Singapore

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)