Manufacturing output up 0.9% in September: EDB
Only biomedical, electronics and chemicals segments posted decline.
Government records showed that manufacturing output went up 0.9% in September 2022, on a yearly basis, with all segments posting growth except for biomedical, electronics, and chemicals.
Excluding figures from biomedical manufacturing, the Economic Development Board Singapore revealed that output grew 2% . On a three-month moving average basis, manufacturing output rose 0.8% last month, compared to a year ago.
On a seasonally adjusted month-on-month basis, output stayed the same, excluding biomedical manufacturing, output grew 2.8%.
Which industry performed well
Transport engineering posted output growth of 38% in September 2022 compared to a year ago. Under this sector, marine and offshore engineering expanded 64.5% backed by higher shipyards activities and rise in oil and gas field equipment. The aerospace segment posted a growth of 36.4% last month.
General manufacturing cluster increased 23.3% year-on-year (YoY) in September 2022. Under this, the food, beverage and tobacco segment expanded 36% due higher beverage and dairy products output.
For precision engineering, output went up 7.7% YoY in September 2022. The machinery and systems segment went up 17.2% on the back of higher output for semiconductor foundry equipment and process control equipment.
Segments that contracted
The only clusters which shrunk were biomedical manufacturing, electronics and chemicals with 3.5% down, 7% down, and 7.1% down, respectively.
Biomedical manufacturing’s pharmaceuticals segment declined 8.5% “ with a different mix of active pharmaceutical ingredients being produced compared to a year ago.”
Under the electronics cluster, the semiconductors, computer peripherals and data storage and other electronic modules and components segments declined 8.4%, 15.2%, and 29.1%, respectively, as demand subdues.
For the chemicals cluster, output of the specialties and other chemicals segments declined 2.3% and 12.7%, respectively. Petrochemicals segment’s output also fell 14.7% following plant maintenance shutdowns.