Singapore March manufacturing output up 12.1 pct on year

SINGAPUR (CIHAN)- Singapore’s manufacturing output expanded by a better-than-expected 12.1 percent on year in March, mainly due to double-digit surge in transport engineering and biomedical output, the city-state’s Department of Statistics said on Friday.
This came after February’s revised year-on-year pace of 13.1 percent, which was revised up from a previous estimate of 12.8 percent growth.
On a seasonally adjusted month-on-month basis, manufacturing output increased by 6.1 percent in March, a little lower than the 6.5 percent expansion reported in February.
Manufacturers across all segments saw more output in March, especially double-digit expansion recorded in transport engineering and biomedical manufacturing clusters.
In particular, output in transport engineering cluster surged by 29.4 percent on year in March, supported by a thriving marine and offshore engineering industry.
Meanwhile, the biomedical manufacturing cluster’s output expanded 16.4 percent in March, which was attributed to the pharmaceuticals segment that grew 19.4 percent due to a higher value-added mix of active pharmaceutical ingredients being produced, and higher output of biologics products.
Excluding biomedical manufacturing, the city-state’s industrial production would also have increased 10.9 percent on year in March.
All other clusters also expanded in March. Electronics production grew 8.7 percent in March on year, largely because of semiconductors and other electronic modules and components.
The manufacturing output of chemical cluster, precision engineering cluster and general manufacturing industries cluster recorded year-on-year growths of 5.2 percent, 4.3 percent and 1.0 percent respectively. (CihanXinhua)

SOURCE: CIHAN