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Singapore's Feb. manufacturing output down 4.7 pct year-on-year

Xinhua, March 24, 2016 Adjust font size:

Singapore's manufacturing output declined 4.7 percent in February on a year-on-year basis, said the country's Economic Development Board (EDB) in a press release on Thursday.

EDB said excluding biomedical manufacturing, output fell 7.4 percent in February. While on a seasonally adjusted month-on-month basis, manufacturing output decreased 4.8 percent, compared to the previous month. Excluding biomedical manufacturing, output fell 2.1 percent.

Output of transport engineering cluster plunged 14.5 percent in February year-on-year. The marine and offshore engineering segment remained weak with output falling 23.1 percent, on account of lower level of rig-building activity and weaker demand for oilfield and gasfield equipment amidst the low oil price environment.

Electronics cluster's output declined 8.4 percent in February year-on-year, said EDB. Growth in the data storage and other electronic modules and components segments was offset by declines in the rest of the electronic segments.

Output of precision engineering cluster decreased 7.5 percent year-on-year. The precision modules and components segment contracted 7.4 percent with lower production of industrial rubber and metal precision components. The machinery and systems segment fell 7.7 percent, on account of lower output in refrigerating systems and mechanical engineering work.

As for the general manufacturing industries cluster, the output dropped 0.3 percent in February year-on-year. The decline was mainly attributed to the miscellaneous industries segment, falling 4.1 percent, on the back of lower production of wearing apparels and steel structural components, according to EDB's press release. The printing and food, beverages and tobacco segments registered output growth of 6.0 percent and 1.0 percent respectively.

The biomedical manufacturing cluster's output expanded 5.8 percent in February year-on-year. The medical technology segment increased 12.7 percent on the back of higher export demand for medical devices, while pharmaceuticals segment's output grew 4.0 percent with higher production of active pharmaceutical ingredients and biological products.

Output for chemicals cluster increased 1.2 percent on a year-on-year basis in February. The other chemicals and specialties segment posted growth of 19.0 percent and 2.8 percent respectively. Growth in the other chemicals segment was supported by higher output in fragrances, while the petrochemicals segment contracted 12.2 percent mainly due to plant maintenance shutdowns, said EDB. Endit