Manufacturing output growth moderates to 2.2% YoY in June
Excluding biomedical manufacturing, output grew 4.2% YoY.
Singapore’s manufacturing output growth moderated to 2.2% YoY from 13.8% in May, data from the Economic Development Board (EDB) showed.
Excluding biomedical manufacturing, which dipped 9.2% YoY, the manufacturing output would have risen by 4.2% YoY.
According to the EDB, the biomedical manufacturing segment was dragged by the contraction of the pharmaceuticals segment by 24.9% YoY. The chemicals cluster likewise posted a decrease in output, declining by 11.0% YoY.
On the flip side, most clusters performed well in June, led by transport engineering with an output expansion of 32.0% YoY. Growth in the cluster was driven by double-digit increases across its marine & offshore engineering (+44.0% YoY) and aerospace segments (+32.0% YoY).
Other clusters which posted output growth were general manufacturing (10.1% YoY), precision engineering (5.6% YoY), and electronics (2.3% YoY).