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Singapore May manufacturing output up 13.8% year over year amid chip shortage

Kitco News

SINGAPORE, June 24 (Reuters) - Singapore's industrial output in May beat forecasts and grew 13.8% year-on-year, due to strong demand from 5G markets and data centres amid a global semiconductor chip shortage, official data showed on Friday.

Economists had expected a 5.8% year-on-year increase in May, according to a Reuters poll.

On a month-on-month and seasonally adjusted basis, industrial production was up 10.9% in May. Economists had forecast 2.8% growth.

Reporting by Chen Lin in Singapore Editing by Ed Davies
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