Photographer: Bryan van der Beek/Bloomberg

Singapore Manufacturing Expands for First Time Since 2014: Chart

Singapore’s manufacturing grew for the first time in almost two years in the second quarter, led by higher output in the biomedical and electronics sectors, a government report showed Thursday. The improvement may be short-lived though: Analysts at Nomura Group said biomedical production tends to be volatile and faster expansion may not last. Nomura said possible economic turmoil that follows the U.K.’s vote to leave the European Union may drag Singapore into a technical recession in the second half of the year.

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