Chart of the day: Check out how bady biomedical segment dragged manufacturing output

It posted an 8.4% contraction in August.

The biomedical segment of the city-state's industrial production (IP) has been lagging for months now, posting a contraction for a third consecutive month.

According to the latest data by Singapore Economic Development Board, the biomedical manufacturing output moved at a slower pace of -8.4% in August.

Lower output of active pharmaceutical ingredients and biological products has been dragging the segment down, registering a contraction of 14.1% in August.

This has offset the pickup in medical technology, which gained a momentum of 12.1% on the back of higher export demand for medical instruments.

Without this weak segment, Singapore's IP growth could have clocked in higher at 2.3%, compared to the 0.1% it recorded for the month.