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Singapore’s manufacturing output fell 0.4% in July, narrower than economists' forecast

SINGAPORE — Singapore’s manufacturing output decreased 0.4 per cent in July as compared to the previous year, amid slower economic growth in the second quarter of the year, data from the Economic Development Board (EDB) showed on Monday (Aug 26).

The food, beverage and tobacco segment also expanded 7 per cent with a higher beverage products output, data from the Economic Development Board (EDB) showed on Monday.

The food, beverage and tobacco segment also expanded 7 per cent with a higher beverage products output, data from the Economic Development Board (EDB) showed on Monday.

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SINGAPORE — Singapore’s manufacturing output decreased 0.4 per cent in July as compared to the previous year, amid slower economic growth in the second quarter of the year, data from the Economic Development Board (EDB) showed on Monday (Aug 26).

That compares with a revised 8.1 per cent contraction in June. The median forecast in a Reuters survey predicted a 4.9 per cent drop for July.

On a seasonally adjusted month-on-month basis, output went up 3.6 per cent.

Excluding biomedical manufacturing, output fell 0.7 per cent year-on-year.

General manufacturing recorded the highest increase in July, with 6.9 per cent year-on-year.

High production of metal tanks and containers, as well as wearing apparel, contributed to a 10.8 per cent growth in the miscellaneous industries segment.

The food, beverage and tobacco segment also expanded 7 per cent with a higher beverage products output, the data showed.

Chemicals output increased 2.2 per cent year-on-year, with the other chemicals segment experiencing a 13.1 per cent growth. The petrochemicals and petroleum segments contracted, however, mainly due to maintenance shutdowns in some plants.

The biomedical cluster saw a 0.8 per cent growth year-on-year, with the medical technology expanding 17.7 per cent, supported by higher export demand for medical devices.

Meanwhile, precision engineering saw the biggest decline, at 7.5 per cent year-on-year, despite a 6.7 per cent growth in the precision modules and components segment, the data showed.

“Overall, the precision engineering cluster fell 8.7% in the first half of 2019,” said EDB.

The electronics cluster also contracted year-on-year, by 0.9 per cent. This is despite growth in the data storage and semiconductors segments, at 1.8 and 0.3 per cent respectively. The cluster’s output fell a cumulative 5.6 per cent in the first seven months of the year, compared to the same period last year, said EDB.

The transport engineering cluster’s output fell 0.2 per cent in July as compared to a year ago. Within the cluster, the aerospace segment saw an increase of 10.8 per cent as repair and maintenance jobs from commercial airlines increased.

However, marine and offshore engineering segment also shrank 10.8 per cent, as it recorded less offshore, shipbuilding and repairing activities. Land engineering saw a decline as well, at 0.7 per cent. CNA

For more stories like this, visit cna.asia.

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