Singapore’s manufacturing output declines for second consecutive month

SINGAPORE — Singapore’s manufacturing output declined for the second consecutive month in March, down by 5.5 per cent compared to a year earlier and after shrinking 3.3 per cent in February.

However, the performance was slightly better than a 5.9 per cent decline economists had predicted in a Reuters forecast.

Excluding the volatile biomedical manufacturing cluster, output fell by 4.6 per cent, according to data released by the Economic Development Board today (April 24).

Out of the six clusters in manufacturing, four clusters – general manufacturing industries, electronics, biomedical and transport engineering clusters – showed lower output, mainly due to declines in semiconductors, printing products, pharmaceuticals, aerospace and marine & offshore segments.

Output in the chemicals and precision engineering clusters saw growth for last month, led by the petroleum, specialties, petrochemicals, precision modules & components and machinery & systems segments.