SINGAPORE: Singapore’s manufacturing output declined in March after a slight uptick the month before, data from the Singapore Economic Development Board (EDB) showed on Friday (Apr 26).
Manufacturing output in March contracted 4.8 per cent on year, in line with a Reuters poll of 10 economists.
Production fell more than expected at 2.6 per cent on a month-on-month and seasonally adjusted basis. The median forecast was for a contraction of 1.8 per cent.
FALL IN ELECTRONICS PRODUCTION
Output fell 8.7 per cent year-on-year excluding biomedical manufacturing, which saw the highest increase at 13.7 per cent. Under this cluster, pharmaceuticals output grew the most at 16.5 per cent.
Electronics manufacturing, however, took a plunge in March with a 15.3 per cent decline year-on-year.
Two segments – other electronic modules and components and infocomms and consumer electronics – grew 13.9 per cent and 6.1 per cent respectively, while the others recorded declines in output.
Two other sectors experienced declines: Chemical manufacturing, by 2.7 per cent, and precision engineering, by 13.3 per cent.
Under the chemical manufacturing cluster, the petroleum refining segment contracted 24.4 per cent, largely due to maintenance shutdowns in some plants.
For precision engineering, the precision modules & components segment contracted 22.8 per cent, due to lower production of optical and wire & cable products.
INCREASES IN OUTPUT
The remaining clusters saw increases in output.
General manufacturing reported a 5.8 per cent rise, boosted by a 12.1 per cent increase in the food, beverages and tobacco segment on account of higher infant milk and dairy products output.
The transport engineering sector output increased by 1.8 per cent in March compared to last year.
A 15.4 per cent growth in the aerospace segment was moderated by declines in the land transport and marine and offshore engineering segments, at 6.5 per cent and 10.2 per cent respectively.