⁍ Singapore’s industrial output blew past forecasts to rise 24.2% year-on-year in September, its fastest pace in nine years.

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⁍ The climb was the biggest since December 2011 and marked the second straight increase in monthly manufacturing after revised 15.4% jump in August.

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⁍ Pharmaceutical manufacturing grew 113.6% on-year, with higher output of active pharmaceutical ingredients and biological products.

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– Singapore’s economy is doing better than expected this year, thanks in large part to a surge in manufacturing. The country’s industrial output rose 24.2% year-on-year in September, the fastest pace in nine years and beating economists’ expectations of a 2.5% increase, reports Reuters. Pharmaceutical manufacturing, which is volatile, jumped 113.6%, while electronics production rose 30.1%. “Looks like manufacturing will be the key driver and silver lining for the Singapore recovery story in the short term,” says an analyst at OCBC Bank. Singapore expects its GDP to shrink 5% to 7% this year.