SINGAPORE: Production in Singapore's factories inched up 0.7 per cent in February 2019 from a year prior - an improvement from a 3.1 per cent decline in January - according to data released by the Economic Development Board (EDB) on Tuesday (Mar 26).
Excluding biomedical manufacturing, output fell by 1.6 per cent in February. The cluster saw a 13.3 per cent increase, notably with the pharmaceuticals segment expanding 17.9 per cent.
AdvertisementExpansions of between 2.0 per cent and 4.2 per cent were also observed in the transport engineering, general manufacturing and chemicals clusters.
Manufacturing growth, however, was moderated by decreases in precision engineering and electronics, whose outputs fell by 14.9 per cent and 1.1 per cent respectively.
The lacklustre performance in the precision engineering cluster was driven by lower production of semiconductor equipment, leading to a 27.8 per cent fall in the machinery and systems segment.
Adjusting for seasonal fluctuations, February’s output was 4.1 per cent less than January’s – or 0.1 per cent less when not accounting for biomedical manufacturing.
AdvertisementAdvertisementThe three-month moving average ending February rose 0.7 per cent from a year prior.
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