Manufacturing sector output extends winning streak in Q2

It grew 8.1% YoY in the second quarter.

It was another stellar quarter for the manufacturing sector after it extended its output growth by 8.1% in Q2.

According to the latest data released by the Ministry of Trade and Industry (MTI), this came after the 8.5% growth seen in the said sector during the first quarter of the year.

The growth during the quarter was primarily supported by the electronics and precision engineering clusters, which expanded on the back of strong global demand for semiconductors and semiconductor-related equipment.

On the other hand, the lacklustre performers within the sector were the biomedical manufacturing, general manufacturing and transport engineering clusters.

MTI noted that on a quarter-on-quarter basis, the manufacturing sector expanded by 2.9%, accelerating from the 0.3% growth in the previous.

To recall, Singapore's gross domestic product expanded by 2.9% in the past quarter, faster than the 2.5% growth seen in Q1.