Manufacturing output growth cools down to 6% in July.
It was led by the 10.1% output expansion in biomedical manufacturing.
Singapore’s manufacturing output eases down to a 6% YoY growth in July which is a slip from June’s 8% YoY growth, data from the Economic Development Board revealed. It added that output grew 5.1% if not including biomedical manufacturing production.
The biomedical manufacturing segment saw a 10.1% YoY jump in output. This was led by the expansion in pharmaceuticals output by 14.1% YoY. Meanwhile, output from the medical technology segment slipped 1.2%.
In the transport engineering area, output increased 9.6% YoY in July. The aerospace segment led the gains with a 23.5% YoY growth on the back of higher volume of engine repair and maintenance work from commercial airlines. Output from the marine and offshore engineering segment also inched up 1.4% whilst output in land transport segment contracted 9.8%.
Also read: Unsustainable growth in manufacturing could hit Singapore’s GDP
For the chemicals, output recorded a 7.4% YoY growth in July 2018. The other chemicals, petrochemicals and specialities segments expended by 15.8%, 7.8%, and 1.9% respectively. However, petroleum output fell 3.6% amidst plant maintenance shutdown.
Electronics saw a 5.4% YoY expansion in July led by the 12.3% growth in the output of the other electronic modules and components. Semiconductors and infocomms & consumer electronics also saw growth by 7% and 3.4%, respectively.
However, the data storage and computer peripherals segments contracted 1.1% and 13.7% respectively.
A 3.4% YoY growth in output was hit by the area of precision engineering, led by the 5.8% expansion in machinery and system amidst higher production of refrigeration systems, process control equipment and mechanical engineering work. Meanwhile, the precision modules & components segment contracted 0.9% over lower production in dies, moulds, tools, jigs & fixture. On a year-to-date basis, the precision engineering cluster grew 8.4%, compared to the same period last year.
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