Chart of the Day: Check out the rebound in Singapore's manufacturing output

It expanded by 7.9% for the first two months of the year.

Recovery in the external outlook is showing up in Singapore's manufacturing momentum, as it rebounded strongly in 4Q16.

The industrial production index for the first two months of the year rose 7.9%. Whilst it was a slight moderation from 4Q16's 11.7% growth, it still suggests hope for the economy's near-term outlook.

The slight moderation was due to the volatile pharmaceutical and biomedical cluster, which contracted 8% YoY for the first two months following the 29% expansion in 4Q16.

Meanwhile, the electronic manufacturing cluster, which is the other key driver of the manufacturing resurgence in 4Q16, continued to grow strongly at 30.1% YoY over January-February 2017, on the back of semiconductors.