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Singapore manufacturing growth slows to 4% in November

SINGAPORE — Singapore manufacturing output grew 4 per cent year-on-year last month, but the figure was less than half of the 8.3 per cent growth recorded the month before, figures released by the Economic Development Board today (Dec 26) showed.

A manufacturing plant in Singapore. Photo: Bloomberg

A manufacturing plant in Singapore. Photo: Bloomberg

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SINGAPORE — Singapore manufacturing output grew 4 per cent year-on-year last month, but the figure was less than half of the 8.3 per cent growth recorded the month before, figures released by the Economic Development Board today (Dec 26) showed.

Excluding biomedical manufacturing, output increased 5.5 per cent. On a three-month moving average basis, manufacturing output rose 7.2 per cent in November, compared to a year ago.

On a seasonally adjusted month-on-month basis, manufacturing output contracted 2.8 per cent last month. Excluding biomedical manufacturing, output fell 4.7 per cent.

ELECTRONICS

The electronics cluster’s output expanded 11.0 per cent on a year-on-year basis in November. Gains in the other electronics modules and components (22.7 per cent), computer peripherals (17.9 per cent) and semiconductors (17.8 per cent) segments outweighed declines in the data storage (-1.4 per cent) and infocomms and consumer electronics (-13.3 per cent) segments.

Cumulatively, output of the electronics cluster rose 1.8 per cent from January to November, compared to the same period last year.

TRANSPORT ENGINEERING

Output of the transport engineering cluster increased 6.3 per cent year-on-year in November 2013. The aerospace segment grew 12.2 per cent due to higher output in aircraft engine repair jobs.

The marine & offshore engineering segment expanded 7.1 per cent, supported by higher contributions from rig building projects. Output of the transport engineering cluster rose 3.3 per cent in the first eleven months of 2013, compared to the same period last year.

GENERAL MANUFACTURING

The general manufacturing cluster’s output grew 3.4 per cent in November 2013, compared to a year ago. The miscellaneous industries segment grew 8.9 per cent, with higher output in metal tanks & containers, batteries and prefabricated wooden products.

On the other hand, output of the food, beverages & tobacco and printing segments contracted 1.3 per cent and 2.2 per cent, respectively. On a year-to-date basis, output of the general manufacturing cluster rose 2.3 per cent.

PRECISION ENGINEERING

Output of the precision engineering cluster grew 1.1 per cent year-on-year in November, supported by higher output in the machinery & systems segment. The segment grew 4.9 per cent on the back of higher export demand for lifting and hoisting machinery as well as semiconductor related equipment. On the other hand, the precision modules & components segment fell 2.6 per cent, due to lower output in metalstamping and electronic connectors. Cumulatively, output of the precision engineering cluster shrank 5.9 per cent year-on-year in the first eleven months of this year.

BIOMEDICAL MANUFACTURING

Output of the biomedical manufacturing cluster contracted 2.1 per cent in November on a year-on-year basis. The medical technology segment grew 2.9 per cent with higher output in medical research instruments and consumables, while pharmaceuticals output fell 3.2 per cent. On a year-to-date basis, output of the biomedical manufacturing cluster increased 1.7 per cent, compared to the same period a year ago.

CHEMICALS

The chemicals cluster’s output fell 2.7 per cent year-on-year in November. The petrochemicals and specialties segments grew 2.2 per cent and 1.0 per cent, respectively, but this was more than offset by the 17.2 per cent contraction in the petroleum segment, with throughput affected by weak refining margins.

Output of the chemicals cluster in the first 11 months of 2013 rose 0.2 per cent, on a year-on-year basis.

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