Singapore's manufacturing output rises 3.3% in August, its lowest growth rate in 2018
A manufacturing facility in Singapore. (File photo: AFP/Roslan Rahman)
SINGAPORE: Singapore's manufacturing output increased 3.3 per cent in August 2018 from a year ago, according to figures released by the Economic Development Board (EDB) on Wednesday (Sep 26).The figure represents the lowest growth rate for manufacturing output this year, compared with 6.7 per cent growth year-on-year in July and an 8.1 per cent increase in June.
EDB said that excluding biomedical engineering, output grew 3 per cent in August. On a seasonally adjusted month-on-month basis, manufacturing output decreased 2 per cent in August 2018.
For the chemicals sector, output increased 5.7 per cent year-on-year last month, with the specialties segment growing by 14.2 per cent because of the low base last year after a plant maintenance shutdown. The other chemicals segment rose 4.3 per cent with higher output in fragrances, but the petrochemicals and petroleum segments saw output decrease 2.4 per cent and 4.7 per cent respectively, mainly due to plant maintenance shutdown.
In the precision engineering sector, output grew 5.6 per cent, according to EDB's figures.The precision modules and components segment expanded 16.5 per cent due to higher production in optical instruments. In contrast, the machinery and systems segment fell 1.4 per cent due to lower export demand for semiconductor related equipment, said EDB.On a year-to-date basis, the precision engineering cluster grew 8 per cent, compared to the same period last year.For the transport engineering cluster, output increased 4.7 per cent year-on-year last month. Within this sector, marine and offshore engineering segment grew 15.4 per cent on the back of a higher level of work done in offshore projects.The aerospace segment rose 1.3 per cent while the land transport segment declined 19.5 per cent, according to the figures released.
The biomedical manufacturing sector saw output increase 4.2 per cent last month and pharmaceuticals output expanded 8.7 per cent with higher production of pharmaceutical and biological products.On the other hand, the medical technology segment fell 8.2 per cent.Overall, on a year-to-date basis, the biomedical manufacturing cluster’s output increased 7.6 per cent compared to the same period a year ago.The electronics cluster also grew 3.6 per cent last month on a year-on-year basis. The cluster’s growth was mainly attributed to the other electronic modules and components and semiconductors segments, which grew 19.4 per cent and 7.8 per cent respectively, said EDB.
The rest of the electronics segments recorded output declined.
Finally, the general manufacturing cluster saw output fall 6 per cent last month, with all segments recording declines. The food, beverages and tobacco segment contracted 5.3 per cent, on account of lower production of infant milk and beverage products, EDB said.The miscellaneous industries and printing segment declined 5.7 per cent and 9.9 per cent respectively. On a year-to-date basis, the cluster grew 0.8 per cent compared to the same period a year ago.
Source : https://www.channelnewsasia.com/news/singapore/singapore-manufacturing-output-rose-3-3-in-august-10759022