Singapore manufacturing output dips 0.3% in June
Weighed down by a biomedical manufacturing contraction.
June 2016’s manufacturing output has put the kibosh on a three-month YoY growth streak, as data from the Singapore Economic Development Board (EDB) reveals Singapore’s manufacturing output slipped 0.3% YoY in June.
Stripping out biomedical manufacturing (which contracted 10.2% YoY), output inched up 2.4%.
On a seasonally adjusted MoM basis, manufacturing output dipped 2.5% in June. Excluding biomedical manufacturing, output grew 1.8%.
Meanwhile, on a three-month moving average basis, manufacturing output inched up 1.1% in June 2016.
The electronics cluster and precision engineering cluster enjoyed output growth, climbing 19.7% YoY and 4.3% YoY respectively. The general manufacturing industries cluster’s output slipped 4.5% YoY, while the chemicals cluster’s output fell 5.1% YoY. The transport engineering cluster’s output also plunged 17.2% YoY.
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