Manufacturing shrinks by 5.9%

The culprit was the decline in biomedical manufacturing output in the second quarter.

This was brought about by the switching of some companies to producing a different value mix of active pharmaceutical ingredients, according to the Ministry of Trade and Industry.

MTI also reported that electronics output declined, as global demand for semiconductor chips eased.

The good news is the biomedical manufacturing cluster is expected to recover, as companies step up production in anticipation of stronger demand.

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