Singapore manufacturing output dips 0.5% in March

Though three of six clusters saw an uptick.

Singapore manufacturing’s output saw a 0.5% slip in March 2016, according to figures released by the Economic Development Board. Excluding biomedical manufacturing, output dropped 5.5%.

On a three-month moving average basis, manufacturing output inched up 1% in March 2016 compared to February 2016. Stripping out biomedical manufacturing, output fell 1%.

The biomedical manufacturing cluster’s output climbed 23.1% YoY last March. Pharmaceuticals segment skyrocketed 27.9%, thanks to a different mix of active ingredients produced.

The electronics cluster’s output inched up in 5.8% YoY in March. The semiconductor segment’s output grew 21.7% YoY but it was partially offset by declines in the rest of electronics segments. Cumulatively, output of the electronics grew 3% YoY in the first quarter of the year.

Output of the general manufacturing industries cluster inched up 0.9% YoY in March. This is thanks to the food, beverages & tobacco segment which posted a 10% YoY growth. Year to date (YTD), the general manufacturing industries cluster’s output fell 1.5% compared to the same period last year.

The chemicals cluster’s output slipped 4.9% YoY last March, impacted by contractions in specialties, petroleum, and petrochemicals segments. For Q1, output of the cluster dropped 2.7% YoY.

Output of the precision engineering cluster plunged 7.7% YoY. In YTD terms, the engineering cluster’s output fell 8.4% YoY.

The transport engineering cluster’s output posted a 23.1% drop YoY. In the first quarter of the year, output of the cluster tumbled 20.5% YoY.