Hooked on drugs: Biomedical cluster aids sluggish April manufacturing output

Drugs play the hero in a dreary scenario.

The biomedical cluster is a bright spot in the manufacturing industry’s otherwise lackluster April performance, which recorded a 4.7% decrease in April.

This figure would be much lower without the biomedical cluster. Excluding biomedical manufacturing, output fell 7.3%.

The biomedical sector recorded the only output increase for the entire period.

It recorded a 23.8% growth, propped up by the increased production of active pharmaceutical ingredients and greater export demand for medical diagnostic instruments and consumables.

Here’s more from the report:

On a year-on-year basis, manufacturing output grew 4.6% in April 2014. Excluding biomedical manufacturing, output declined 0.7%.

On a three-month moving average basis, manufacturing output rose 9.8% in April 2014, compared to a year ago.

On a seasonally adjusted month-on-month basis, manufacturing output decreased 4.7% in April 2014. Excluding biomedical manufacturing, output fell 7.3%

On a year-to-date basis, output of the biomedical manufacturing cluster increased 17.0%, compared to the same period a year ago.

The general manufacturing industries cluster’s output rose 0.8% in April 2014 on a year-on-year basis.

Growth was attributed to the miscellaneous industries segment which expanded 5.0% as a result of higher output of batteries and basic precious & non-ferrous metals.

In contrast, the food, beverages & tobacco and printing segments declined 0.3% and 8.9%, respectively.

On a year-to-date basis, output of the general manufacturing industries cluster increased 1.0% compared to the same period a year ago.