A view factories in Singapore July 24, 2018. REUTERS/Edgar Su
SINGAPORE, Aug 26 (Reuters) – Singapore's industrial output in July grew 0.6% year-on-year, well below forecasts, partly due to a decrease in the output of electronics and biomedical manufacturing, official data showed on Friday.
Economists had expected a 5.3% year-on-year increase in July, according to a Reuters poll.
On a month-on-month and seasonally adjusted basis, industrial production decreased 2.3% in July. Economists had forecast 0.9% growth.
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Hong Kong's High Court approved on Monday an application by China Evergrande Group and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7.
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