Singapore manufacturing output in February up 8.9%
A worker at a manufacturing facility in Singapore. (Photo: TODAY)
SINGAPORE: Singapore's manufacturing output last month rose by 8.9 per cent from a year ago despite the Chinese New Year holiday falling in February.
On a seasonally adjusted month-on-month basis, manufacturing output fell by 0.5 per cent. However, excluding biomedical manufacturing, output grew 1.3 per cent, the Economic Development Board (EDB) said in a news release on Monday (Mar 26).Production in the electronics cluster grew by 17.4 per cent in February compared to the same month last year. The semiconductors segment posted robust growth of 26.7 per cent. Meanwhile, the output for general manufacturing decreased by 6.3 per cent on a year-on-year basis partly due to fewer production days in February because of Chinese New Year.
Output by the biomedical manufacturing cluster increased by 8.4 per cent mainly due to a growth of 15.2 per cent in pharmaceuticals output as a result of higher production in biological products.The chemicals cluster saw growth of 8 per cent in output led by the petrochemicals segment, which recorded an output increase of 17 per cent due to more production capacity.
Petroleum throughput rose 7.8 per cent from last February when some plants had shut down for maintenance, EDB said.Additionally, production by transport engineering grew by 5.4 per cent as compared to February last year. There was a hike of 57.2 per cent in output in the aerospace segment due to the higher volume of repair and maintenance work from commercial airlines.The land transport segment contracted 11.5 per cent while the marine & offshore engineering segment shrank 29.4 per cent. The latter reported lower levels of shipbuilding and repair activities.
The precision engineering cluster grew by 3.4 per cent year-on-year. The next monthly manufacturing performance will be issued on Apr 26.
Source : http://www.channelnewsasia.com/news/singapore/singapore-manufacturing-output-in-february-up-8-9-10076618