Singapore’s manufacturing output slipped 8.1% in January

Find out how other clusters fared.

According to a release, on a year-on-year basis, Singapore’s manufacturing output grew 3.9% in January 2014. Excluding biomedical manufacturing, output increased 3.7%.

On a seasonally adjusted month-on-month basis, manufacturing output declined 8.1% in January 2014. Excluding biomedical manufacturing, output fell 8.1%.

On a three-month moving average basis, manufacturing output rose 5.7% in January 2014, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output declined 8.1% in January 2014 compared to December 2013. Excluding biomedical manufacturing, output fell 8.1%.

The chemicals cluster’s output rose 8.4% on a year-on-year basis in January 2014. Growth was contributed by the petrochemicals segment as the new plants that started operations last year continue to ramp up their production. On the other hand, petroleum throughput contracted 5.3% as refining margins remained weak.

Output of the electronics cluster grew 7.4% year-on-year in January 2014, with all segments recording higher output. The other electronics modules & components (43.0%) and computer peripherals (26.8%) segments registered robust growth from the low base last year, while the semiconductors segment grew 3.5%.

The biomedical manufacturing cluster’s output expanded 5.1% in January 2014, compared to the same period a year ago. Output of the medical technology segment grew 7.8%, on the back of higher demand for medical instruments and consumables, while pharmaceuticals output increased 4.5% with higher production of active pharmaceutical ingredients.

Output of the transport engineering cluster grew 2.7% year-on-year in January 2014, supported by the aerospace segment which expanded 17.9%. This was partly offset by the marine & offshore engineering segment, which declined 1.1% due to lower contributions from ship building and ship repairing, and the land transport segment, which fell 24.1%.

Output of the precision engineering cluster was 1.0% lower year-on-year in January 2014. Growth was supported by the machinery & systems segment, which grew 8.6% on account of higher export demand for lifting & handling equipment and semiconductor related equipment. In contrast, output of the precision modules & components segment fell 10.0%, with lower demand for optical instruments & photographic equipment from the US and Europe, and lower output of electronic connectors.

The general manufacturing industries cluster’s output decreased 4.2% in January 2014 on a year-on-year basis. The food, beverages & tobacco segment rose 2.3%, due to festive demand. This was more than offset by the miscellaneous industries segment, which contracted 5.8% due to lower output in steel structural component and concrete & cement products, as well as printing output which declined 11.4%.