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The recovery in Asia gathered pace today after a surge in manufacturing output in Singapore.
Industrial production rose 12.3% in August from a year earlier following a 17% jump in July, the Singapore trade and industry ministry said.
However, output was 5.6% lower in August than it was in July.
Economists said the figures suggested the city-state's economy is likely to grow for a second quarter in a row from July to September, signalling a strong recovery from recession.
Japan has already pulled out of recession and many are now looking to Asia to lead the global recovery.
Vishnu Varathan, an economist at 4Cast, said: “The drivers have not changed that much. Pharmaceuticals have led the way.
“The ramifications for GDP are that we can quite safely revise our estimates upwards, given that manufacturing has performed much better than expected in the first two months of the third quarter.”
