Singapore manufacturing output down 2.5% in Sept

Electronics sector a major drag.

Singapore Economic Development Board today announced that on a year-on-year basis, manufacturing output declined 2.5% in September 2012.

Excluding biomedical manufacturing, output fell 1.5%.

On a three-month moving average basis, manufacturing output contracted 0.8% in September 2012, compared to a year ago.

On a seasonally adjusted month-on-month basis, manufacturing output declined 1.8% in September 2012. Excluding biomedical manufacturing, output fell 0.4%.

Here's more from EDB:

Output of the transport engineering cluster grew 16.1% on a year-on-year basis in September 2012, supported by higher output across all segments. The aerospace segment expanded 20.5% on the back of new production capacity, and the marine & offshore engineering segment rose 11.4% with higher contributions from rig building activities and the production of oilfield equipment components. Output of the transport engineering cluster in the first nine months of 2012 increased 13.9%, compared to the same period in 2011.

The precision engineering cluster’s output increased 1.9% year-on-year in September 2012. Growth was supported by the machinery & systems segment which grew 4.7%. The segment saw higher output of lifting and handling equipment, including industrial automation systems, and lifts & escalators. On the other hand, the precision modules & components segment fell 1.3%, on account of lower output of electronic connectors and industrial & mechanical rubber goods. On a year-to-date basis, output of the precision engineering cluster grew 2.0%, compared to the same period a year ago.

Output of the general manufacturing cluster was unchanged in September 2012 compared to the same period a year ago. Higher output in the miscellaneous industries (4.0%) and food, beverages & tobacco (1.3%) segments were offset by lower printing output (-10.3%). Output growth in the miscellaneous industries segment was supported by higher production of batteries and construction related products such as concrete and structural metal components. Cumulatively, the general manufacturing cluster’s output grew 2.4% from January to September, compared to the same period last year.

The chemicals cluster’s output fell slightly by 0.2% in September 2012 on a year-on-year basis. The petrochemicals and other chemicals segments rose 8.3% and 1.1%, respectively. However, the specialty chemicals segment declined 2.0% on the back of weak regional demand, and the petroleum segment contracted 11.1% due to maintenance shutdowns. On a year-to-date basis, chemicals output declined 2.8%, compared to the same period a year ago.

Output of the biomedical manufacturing cluster declined 6.9% on a year-on-year basis in September 2012. The medical technology segment increased 4.4%, but the pharmaceuticals segment fell 8.9% due to a different mix of active pharmaceutical ingredients being produced. On a year-to-date basis, output of the biomedical manufacturing cluster was 16.5% higher, compared to the same period a year ago.
The electronics cluster’s output contracted 12.2% in September 2012 compared to the same period a year ago. Most segments in the cluster registered declines, as world electronics demand remained weak in the face of global economic uncertainties. On a cumulative basis, output of the cluster in the first nine months of 2012 fell 12.0%, compared to the same period in 2011.