Here's what happened to precision engineering in December

There was weak export demand for semiconductor-related equipment.

The Singapore Economic Development Board reported:

Output of the precision engineering cluster was 7.9% lower year-on-year in December 2012, with both segments recording lower output.

The precision modules & components segment contracted 2.0%, on the back of lower output in plastic precision components and dies, moulds, jigs & fixtures.

Weak export demand for semiconductor related equipment and refrigerating systems contributed to the 12.6% decline in the machinery & systems segment.

Cumulatively, output of the precision engineering cluster grew 1.3% in 2012 compared to 2011.

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