Singapore's manufacturing output grows 16.9% in October after decline in previous month

SINGAPORE: Singapore's manufacturing output rose in October, after a decline in the month earlier than that, official information on Friday (Nov 26) confirmed. Manufacturing output elevated 16.9 per cent year-on-year in October, after a 3.4 per cent fall in September. Excluding biomedical manufacturing, output grew 9.7 per cent, in line with the Economic Development Board (EDB). On a three-month transferring common foundation, manufacturing output rose 8 per cent in October in comparison with a 12 months in the past.On a seasonally adjusted month-on-month foundation, manufacturing output
elevated 2.4 per cent. Excluding biomedical manufacturing, output grew 1.5 per cent.Singapore’s biomedical manufacturing cluster grew 56.1 per cent in October, in comparison with the identical interval final 12 months. The prescribed drugs section grew 93.4 per cent from a "low production base" final 12 months. However, the medical know-how section fell 3 per cent as a result of decrease demand for medical gadgets in some export markets. Transport engineering output grew 35.3 per cent in October, with the marine and offshore engineering section rising 77.6 per cent with the next degree of labor achieved in shipbuilding and repairing actions, in comparison with the low base a 12 months in the past. The aerospace section grew 26.9 per cent, as demand for upkeep, restore and overhaul actions improved in comparison with a 12 months in the past, when there was widespread grounding of plane as a result of COVID-19 worldwide journey restrictions, mentioned EDB. 

CHEMICALS OUTPUT GROWS

Chemicals output rose 15.3 per cent year-on-year in October, with all segments recording a rise, mentioned EDB. The petrochemicals and petroleum segments grew 16.9 per cent and 15.7 per cent respectively from a 12 months in the past, when manufacturing was low as a result of plant upkeep shutdowns and weak export demand amid the COVID-19 outbreak. The different chemical substances section rose 11.7 per cent as a result of increased output in fragrances whereas the specialties section grew 9.3 per cent with increased manufacturing of mineral oil components. Output in precision engineering rose 9.1 per cent in October. The equipment and methods section grew by 19.6 per cent with increased manufacturing of semiconductor tools to cater to the sturdy capital funding in the worldwide semiconductor trade. However, the precision modules and elements section fell 11.2 per cent, with decrease output of optical merchandise. Electronics manufacturing rose 6.5 per cent, with all segments recording the next degree of manufacturing.The basic manufacturing cluster rose 0.8 per cent in October. Output in the miscellaneous industries section grew 20.2 per cent from a low base final 12 months, when demand for construction-related merchandise was adversely affected by COVID-19.However, the printing section fell 8.2 per cent whereas the meals, beverage and tobacco section contracted 10.3 per cent on account of plant upkeep shutdowns and decrease manufacturing of milk merchandise as a result of weaker export demand. EDB's subsequent month-to-month manufacturing efficiency report shall be launched on Dec 24.