Overall industrial production was down due to pharmaceutical output crashing 28.5%.
DBS Group Research noted:
Separately, the industrial production figures have been slipping. Overall industrial production index dipped 9.1% MoM sa, led by a 28.5% plunge in pharmaceutical output. In addition, ex-biomedical production has been declining for two consecutive months, at an average pace of 3.8% MoM sa in June and July.
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