The manufacturing performance of Singapore in all sectors except biomedical and chemicals declined 4.8% in September 2015 year-on-year, continuing the downward trend for the eighth consecutive month.
On a seasonally adjusted month-on-month basis, output increased 0.5% for the period, according to the latest figures released by the Singapore Economic Development Board.
On a three-month moving average basis, manufacturing output contracted 6.2% in September compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output increased 0.5% compared to August 2015.
Data on September performance by cluster indicates that biomedical manufacturing increased 26.3% year-on-year, with both pharmaceuticals and medical technology segments recording output growth. The pharmaceuticals segment grew 29.2%, partly due to the low base in September last year. Cumulatively, output of the biomedical manufacturing cluster contracted 4.9% from January to September this year compared to the same period last year.
The chemicals cluster’s output increased 4.4% last month on a year-on-year basis, the growth led by the specialties segment, which grew 8.8% on the back of expanded production capacities. The petroleum and petrochemicals segments also posted gains of 4.9% and 2.5%, respectively. On the other hand, the other chemicals segment declined 5.4% due to lower demand for plastic sheet, film & articles, and glass products. Output of the chemicals cluster increased 3.5% in the first nine months of 2015 compared to the same period in 2014.
The general manufacturing industries saw output fall 4.7% year-on-year , weighed down by contractions in the miscellaneous industries (-2.9%), printing (-5.6%), and food, beverages & tobacco (-6.9%) segments. Year-to-date, output of this cluster decreased 2.1% compared to the same period a year ago.
Output of the precision engineering cluster decreased 8.7%. The machinery & systems segment declined 8.3% with lower output in mechanical engineering work and process control equipment, while the precision modules & components segment contracted 9.3% on account of lower production of industrial rubber, fabricated metal products and dies, molds, jigs & fixtures. The cluster’s performance slowed 3.5% in the first nine months of 2015 compared to the same period last year.
The electronics cluster’s output contracted 8.6% in September year-on-year. The other electronics modules & components segment recorded output growth on the back of expanded capacities and higher demand for components used in communication devices. The remaining electronics segments recorded output declines. In the first nine months of this year, output of the electronic cluster decreased 4.3% compared to the same period in 2014.
Finally, output of the transport engineering cluster fell 24% in September 2015 year-on-year, with all segments registering declines. The marine & offshore engineering segment led the decline, as a result of lower levels of rig building and shipbuilding activities. On a year-to-date basis, output of the transport engineering cluster fell 11.8% compared to the same period a year ago.
Photo: Andre Kunzelmann
