Manufacturing output growth further eases to 3.3% in August

Food, beverages & tobacco segment contracted 5.3%.

Singapore’s manufacturing output growth cooled down to 3% YoY in August 2018 from a 6% YoY expansion in July, EDB revealed. On an MoM basis, the output decreased 2%.

For the chemicals cluster, output increased 5.7% YoY with the specialities segment leading the expansion with a growth of 14.2% amidst the low base in 2017 as a result of plant maintenance shutdown. Other chemicals segment rose 4.3% with higher output in fragrances.

However, petrochemicals and petroleum segments saw a contraction of 2.4% and 4.7% respectively, mainly due to plant maintenance shutdown. Despite this, the output of the chemicals cluster increased 8.2% YoY compared to the first eight months back in 2017.

Output in precision engineering rose 5.6% YoY, backed by the 16.5% expansion in the precision modules & components segment amidst higher production in optical instruments. Meanwhile, the machinery & systems segment fell 1.4% due to lower export demand for semiconductor related equipment. The cluster expanded 8% YTD.

For transport engineering, output went up 4.7% YoY with marine & offshore engineering leading the expansion at 15.4% on the back of a higher level of work done in offshore projects. The aerospace segment rose 1.3% whilst the land transport segment contracted heavily by 19.5%.

On a YTD basis, the cluster saw a 10% expansion.

The biomedical cluster recorded an output increase of 4.2% YoY backed by the 8.7% growth in pharmaceuticals output amidst higher production of pharmaceutical and biological products. Meanwhile, the medical technology segment fell 8.2%.

The cluster saw a 7.6% growth YTD.

For electronics cluster, output grew 3.6% YoY, mainly attributed to the 19.4% and 7.8% growth attributed to the other electronic modules & components and semiconductors segments. The rest of the electronics segments recorded output declines.

Cumulatively, the electronics cluster’s output increased 12.7% YTD

In the general manufacturing cluster, output contracted 6% YoY amidst declines in all segments. The food, beverages & tobacco segment contracted 5.3% amidst lower production of infant milk and beverage products.

Meanwhile, the miscellaneous industries and printing segment declined 5.7% and 9.9% respectively. On a YTD, the cluster posted a small growth of 0.8%.