Manufacturing output up 0.5% YoY in August
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- 27 Sep 2022
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The manufacturing output rose 0.5% year-on-year (YoY) in August but declined 1.2% compared to the same period last year when biomedical manufacturing is excluded.
In a statement, the Economic Development Board said the output grew 2% on a seasonally adjustment month-on-month basis, but excluding biomedical manufacturing, it dropped by 2.9%.
Transport engineering led the increase, rising 32.8% YoY, with the marine & offshore engineering segment increasing by 42.8% YoY and the aerospace segment by 42.3% YoY.
General manufacturing output was up 18.8% YoY, as the food, beverage & tobacco segment swelled by 22.2% on the back of higher beverage and dairy products output, whilst the miscellaneous industries and printing segment rose by 14.3% and 10%, respectively.
Biomedical manufacturing output climbed 11.1% YoY as it saw the medical technology segment increase by 18.9% due to higher medical devices demand from the US and China. The pharmaceuticals segment was up 6.4% because of a different mix of active pharmaceutical ingredients produced.
Precision engineering output inched up 2.9% YoY, with the machinery & systems segment increasing 4.7% due to higher semiconductor-related equipment output. On the other hand, the precision modules and components segment dipped by 1.2% due to lower production of optical products, electronic connectors and bonding wire. Read More…
