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Manufacturing output drops 0.8% YoY in October

Excluding biomedical manufacturing, output would have grown by 1.9% YoY.

Manufacturing output fell 0.8% YoY in October, data from the  Economic Development Board (EDB) showed.

Excluding biomedical manufacturing, which dipped 14.5% YoY, the manufacturing output would have risen by 1.9% YoY.

According to the EDB, the pharmaceuticals segment, which fell 27.1% YoY, dragged the biomedical manufacturing cluster.

Apart from biomedical manufacturing, the electronics (-0.7% YoY) and chemicals (-9.7% YoY) clusters also registered decreases in output.

On the other hand, clusters like precision engineering and transport engineering grew in October, rising 18.6% YoY and 6.3% YoY, respectively. Meanwhile, general manufacturing output remained unchanged.

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