Here's what happened to precision engineering in December
There was weak export demand for semiconductor-related equipment.
The Singapore Economic Development Board reported:
Output of the precision engineering cluster was 7.9% lower year-on-year in December 2012, with both segments recording lower output.
The precision modules & components segment contracted 2.0%, on the back of lower output in plastic precision components and dies, moulds, jigs & fixtures.
Weak export demand for semiconductor related equipment and refrigerating systems contributed to the 12.6% decline in the machinery & systems segment.
Cumulatively, output of the precision engineering cluster grew 1.3% in 2012 compared to 2011.