Singapore factory output up 3.3% in July

SINGAPORE'S industrial output grew 3.3 per cent in July, as a double-digit surge in biomedical output offset contractions in electronics and transport engineering activity.

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Here is more information from the Economic Development Board:

On a year-on-year basis, manufacturing output grew 3.3% in July 2014. Excluding biomedical manufacturing, output decreased 2.2%. On a three-month moving average basis, manufacturing output rose 0.8% in July 2014, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output increased 2.7% in July 2014. Excluding biomedical manufacturing, output declined 0.8%.

On a year-on-year basis, manufacturing output grew 3.3% in July 2014. Excluding biomedical manufacturing, output decreased 2.2%. On a three-month moving average basis, manufacturing output rose 0.8% in July 2014, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output increased 2.7% in July 2014. Excluding biomedical manufacturing, output declined 0.8%.

The chemicals cluster's output rose 9.2% on a year-on-year basis in July 2014. Growth was led by the petrochemicals segment which grew 12.1%, due in part to maintenance shut down in some plants a year ago. The specialties segment expanded 11.7% on the back of higher output in additives and industrial gases. Output of the chemicals cluster in the first seven months of 2014 increased 8.6%, compared to the same period in 2013.

Output of the precision engineering cluster grew 4.4% year-on-year in July 2014. Growth was supported by the machinery & systems segment which expanded 10.9% with higher demand for semiconductor related equipment and mechanical engineering work. This was partly offset by the 3.0% decline in the precision modules & components segment, on account of lower output in optical instruments & photographic equipment, and dies, moulds, jigs & fixtures. Cumulatively, output of the precision engineering cluster increased 4.1% for the first seven months of this year, compared to the same period last year.

Output of the electronics cluster fell 2.9% year-on-year in July 2014. The other electronic modules & components and computer peripherals segments grew 20.2% and 1.4%, respectively, but this was outweighed by declines in other segments. In particular, semiconductor output fell 1.6%. Cumulatively, output of the electronics cluster expanded 1.6% from January to July this year, compared to the same period last year.

The general manufacturing industries cluster's output fell 5.9% in July 2014 on a year-on-year basis, with all segments registering declines. The food, beverages & tobacco segment fell 1.8% with lower output in dairy products. The miscellaneous industries segment contracted 7.7% due to lower demand for construction related products such as concrete & cement products and structural metal components. On a year-to-date basis, output of the general manufacturing industries cluster decreased 0.3%, compared to the same period a year ago.

Output of the transport engineering cluster fell 9.9% year-on-year in July 2014. The marine & offshore engineering segment declined 9.0% on the back of lower contributions from rig building and ship repair jobs, while the aerospace segment contracted 16.2% due to lower volume of repair jobs from commercial airlines. Output of the transport engineering cluster increased 5.1% in the first seven months of 2014, compared to the same period last year.